*Can Fin Homes surges 11% after Q4 net profit grows 36%
Can Fin Homes surge 11% after the company reported a 35.84% YoY rise in its net profit to Rs 90.91 crore for the quarter ended March 2020, on the back of higher interest income. The housing finance arm of Canara Bank had posted a net profit of Rs 66.92 crore in the year-ago quarter.
Net interest income the difference between interest earned and interest expended rose 35% YoY to Rs 186 crore from Rs 138 crore. The net interest margin improved from 3.29% to 3.52% during the quarter.
Besides, asset quality too improved during the quarter with the gross non-performing assets of the company being contained at 0.76% as compared to 0.80% in Q3FY20, the company said.