Can Fin Homes Delivers Strong Q4: Net Profit Surges 26%, Announces ₹6 Dividend During Sustained Income Growth

Can Fin Homes Ltd has posted a strong financial performance for the March 2024 quarter with a substantial increase in total income as well as net profit. The board of the company has also treated shareholders with a bountiful interim dividend, demonstrating the company's healthy growth path and value creation intentions.

 

Key Highlights

 

Total Income from Operations Approaches ₹10 Billion:

Can Fin Homes' total income from operations during the March 2024 quarter was ₹9.27 billion (₹927.64 crore), up 21.4% year-on-year from ₹7.64 billion during the same quarter last year.

 

Net Profit Rises 26%

The net profit of the company escalated by 26.08% to ₹2.09 billion (₹209.03 crore) during Q4 FY24, which was higher compared to ₹1.66 billion in the prior corresponding quarter of the previous financial year. Higher loan disbursements, asset quality, and effective cost controls fueled this improvement.

 

₹6 Per Share Dividend Announced

The Board of Directors announced an interim dividend of ₹6 per equity share (face value ₹2 each) for FY25. The dividend record date was fixed as December 4, 2024, and payment to the eligible shareholders would be made on or before December 25, 2024.

 

Sustained Growth Momentum:

For the fiscal year ended March 2024, Can Fin Homes' net profit rose by 20.84% to ₹7.51 billion and sales by 28.5% to ₹35.23 billion, highlighting the company's robust operational performance.

 

Good Financial Ratios:

The company has a net profit margin of more than 21%, a capital adequacy ratio (CRAR) of 24.67%, and gross non-performing assets (GNPA) at 0.92% as of December 2024.

 

Market Reaction

Can Fin Homes shares registered positive movement before the ex-dividend date, as investors believed in the performance of the company and its dividend strategy.

 

"The ₹6 interim dividend per share testifies to the commitment of Can Fin Homes towards rewarding its shareholders, driven by healthy quarterly profits and strong growth prospects," said the company in its regulatory filing.

 

Source: Moneycontrol, Economic Times Realty, Business Standard, INDmoney, Blinkx