Money & Banking

CanFin Homes Q2 profit up 31.54% at ₹128.4 crore

Our Bureau Bengaluru | Updated on October 29, 2020

CanFin Homes has posted 31.54 per cent higher profits at ₹128.41crore on a standalone basis for the second quarter of FY21, against ₹97.62 crore recorded in the same period last year.

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The company’s total income from operations rose 5.02 per cent at ₹525.81 crore (₹500.67 crore). EPS for the quarter stood at ₹9.64 (₹7.33).

The board of directors has given approvals for the issue of non-convertible debentures on a private placement basis up to an extent of ₹4,000 crore, as approved by the shareholders at the AGM on August 26.

The company said that in accordance with the RBI guidelines relating to Covid-19 regulatory package dated March 27, April 17, May 23 and clarification issued by RBI to Indian Bankers Association dated May 6, the company has offered moratorium on the payment of instalments falling due between March 1 to August 31 to eligible borrowers. The moratorium period has been excluded from the number of days past-due from the purpose of asset classification under regulatory income recognition and asset classification norms (IRAC) as of September 30.

As on September 30, the company holds a provision of ₹72.89 crore, which is more than the requirement as per the aforesaid RBI circular on Covid-19 regulatory package.

Published on October 29, 2020

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