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Wednesday, September 9, 1998

Can Fin Homes posts Rs 11 crore profit 

Our Bureau  
Bangalore, Sept 8: Can Fin Homes Ltd has recorded a 5.5 per cent growth in its operating income for fiscal 1997-98. The company's operating income increased to Rs 99.37 crore compared with Rs 94.15 crore during the corresponding period last year. The company has registered a net profit of Rs 11.12 crore and declared a 22 per cent dividend.

The company's book value has risen by 10 per cent to Rs 33.28 from Rs 30.23. The earning per share is Rs 5.42. The capital adequacy ratio stands at 12.51 per cent against the stipulated norm of 8 per cent.

The company aggressively marketed individual loans and achieved growths of 32 per cent and 45 per cent under individual loan sanctions and disbursements, respectively. The cumulative sanctions and disbursements have reached Rs 1,094 crore and Rs 911 crore, respectively, registering growths of 14.5 per cent and 17.7 per cent over the previous year. The company has registered a 25 per cent growth in the number of deposit accounts to Rs 357 crore from Rs 316 croreearlier.

Can Fin Homes has targeted a 60 per cent growth in profits during the current fiscal. The company aims for 70 per cent and 57 per cent increase in its sanctions and disbursements. The company also proposes to sanction Rs 240 crore and disburse Rs 216 crore through its network of 34 branches spread across the country during the current fiscal.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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