CanFin Homes Ltd has reported a 27 per cent rise in net profit for the December quarter on higher sales.
The housing finance company registered a net profit of Rs 25.95 crore for the December quarter against Rs 20.34 crore in the corresponding quarter last year.
Sales for the December quarter were up 42 per cent at Rs 215 crore against Rs 151 crore in the corresponding last quarter. The company reported a 44 per cent rise in finance costs at Rs 160 crore.
Following the results announcement, CanFin Homes scrip was trading about four per cent higher at Rs 658.50 on the BSE towards the end of trading hours on Tuesday.
Rights issue price
Recently, CanFin Homes has announced the pricing of its proposed rights issue at Rs 450 per share, a discount to the current market price.
The company proposes to issue 61,45,575 shares of face value Rs 10 each at a premium of Rs 440 and expects to raise around Rs 270 crore. Shareholders will get 3 equity shares for every 10 shares of the company held as on record date of January 27.