The second-quarter corporate earnings season gathered further momentum after market closing hours on Friday as two prominent financial entities, Can Fin Homes and Canara Robeco Asset Management Company (AMC), declared their scorecard for the September quarter. Both institutions recorded sustained year-on-year expansion across bottom-line profits and operational revenues. Alongside healthy financial figures, mutual fund powerhouse Canara Robeco AMC also rewarded equity shareholders by approving an interim dividend payout, while housing financier Can Fin Homes managed steady top-line growth despite minor sequential pressure on loan asset quality.
Can Fin Homes Q2: Profit Climbs to ₹275 Crore, Marginal Uptick in Gross NPAs
The South India-headquartered housing finance major recorded steady performance across core operational parameters during the July-September period:
Net Profit and Interest Income Surge: Can Fin Homes reported a year-on-year net profit increase to ₹275 crore, up from ₹251 crore posted in the corresponding period of the previous fiscal. Net Interest Income (NII) registered steady expansion, rising from ₹404 crore to ₹432 crore.
Asset Quality Dynamics: On a sequential quarter-on-quarter basis, asset quality experienced minor pressure, with Gross Non-Performing Assets (GNPA) inching up from 0.87% to 0.90%, while Net NPAs edged marginally higher from 0.42% to 0.43%.
Stock Market Performance: Ahead of the post-market earnings declaration, shares of Can Fin Homes settled 0.65% lower at ₹717.70 on Friday against the previous close of ₹722.40, oscillating between an intraday high of ₹729 and a low of ₹716.80. The company commands a market valuation of roughly ₹9,556.50 crore, trading against a 52-week band of ₹702 to ₹970 with a volume-weighted average price (VWAP) of ₹722.28 and turnover exceeding ₹96.83 lakh.
Canara Robeco AMC Q2: Net Profit Reaches ₹59 Crore, ₹2 Interim Dividend Approved
Canara Robeco Asset Management Company delivered double-digit annual growth across revenues and bottom-line metrics alongside shareholder rewards:
Profit and Revenue Expansion: Net profit rose to ₹59 crore in Q2, delivering strong year-on-year growth compared to ₹49 crore in the prior fiscal period. Total operating revenue advanced from ₹104 crore to ₹122 crore.
Interim Dividend Payout: The company’s board of directors declared an interim dividend of ₹2 per equity share for eligible shareholders.
Bourse Trajectory: Shares of Canara Robeco AMC closed Friday’s session down 0.66% at ₹219.75 compared to ₹221.20 previously. The counter touched an intraday high of ₹223.15 and a low of ₹219, hovering near its 52-week low of ₹214.45 against a 52-week high of ₹353.55. The asset manager carries a market capitalization of approximately ₹4,382.20 crore, registering a VWAP of ₹220.30 and a daily turnover of ₹43.02 lakh.