Can Fin Homes Q4 Results Review - Growth Recovery Slower Than Expected: Axis Securities

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Axis Securities Report.Can Fin Homes Ltd.'s disbursement de-grew by ~9% YoY but grew by ~23% QoQ. Assets under management growth was slowest in 11 quarters, registering a growth of ~11/3% YoY/QoQ. Slower operating performance was on the back of process revamping and upgrades. The share of salaried customers remained steady at ~72%. Can Fin Homes will focus on pursuing growth in the SE&P segment while maintaining a mix of salaried and SE&P at 70:30. Net interest income grew by 25% YoY, flat QoQ. Margins (calc.) are likely to have contracted by 10bps QoQ. Non-interest income grew by 31% YoY. Opex growth elevated to 39/46% YoY/QoQ, taking the cost-income ratio to 20.9% from 18.9/14.7% YoY/QoQ. Pre-provision operating profit growth was weak and degrew by 5% QoQ. Provisions came in significantly lower at Rs 2 crore (~2 bps versus 31/37 bps YoY/QoQ). Thus, profit after tax was in line with our expectations and grew by 26/4% YoY/QoQ. Gross non-performing asset/net non-performing asset improved to 0.82/0.42% versus 0.91/0.49% QoQ..Click on the attachment to read the full report:.Indian Oil Q4 Results Review - Inventory Loss, Weak Petchem Lead To Earnings Miss: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Can Fin Homes Q4 Results Review - Growth Recovery Slower Than Expected: Axis Securities

Focus shifts to business growth post a hiccup in FY24

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Can Fin Homes Q4 Results Review - Growth Recovery Slower Than Expected: Axis Securities

Focus shifts to business growth post a hiccup in FY24

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