Can Fin Homes Ltd shares jumped over 5 percent on Friday after the housing finance firm reported stronger-than-expected results for the April-June quarter driven by a rise in yields and growth in asset under management (AUM).
The company's AUM for the June quarter was at over a five-year high with growth rate of 23.9 percent compared to the corresponding quarter last year. The total market value of the investments that an organisation manages on behalf of its clients is known as AUM. If a company’s AUM is higher, it can be an indicator that the company is doing well and the investor may consider investing in it.
Disbursements during the quarter Q1FY23 increased by 92.68 percent year on year. The value of gross non-performing assets (GNPAs) remains the best in the industry and stood at 0.65 percent
Profit after tax (PAT) for the housing finance company had a 31.97 percent growth in the April-June quarter.
"Focusing on our four strategic pillars — Growth, Asset Quality, Profitability, and Liquidity, we continue to follow prudent lending practices. We look ahead with renewed hope and enthusiasm as we maintain our credo of friendship finance and be a reliable housing finance partner for people from all sections of society," Girish Kousgi Managing Director & CEO of Can Fin Homes said in a press release.
Can Fin Homes promoted by Canara Bank is a housing and finance company that is focused on primarily providing housing loans. The company’s stocks have grown more than 12 percent in the five days and 35 percent growth in the past month.
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