India's Can Fin Homes gains after Q2 profit beats estimates
BUZZ-India's Can Fin Homes gains after Q2 profit beats estimates ** Shares of India's Can Fin Homes CNFH.NS rise 2.1% to 733.50 rupees, highest percentage gain since August 20
** Co says total Q2 income rose to 11.31 billion rupees ($116.9 million) from 10.49 billion a year ago
** Co says quarterly net profit after tax rose to 2.75 billion rupees from 2.51 billion rupees a year ago** Morgan Stanley and Jefferies say lower-than-expected credit costs and provisions and double-digit loan growth helped co beat profit estimates by about 3%
** Investec says AUM growth of 10% Y/Y supported quarterly earnings despite disbursements slightly impacted by IT implementation** Stock rated "buy" by 15 analysts on avg, with median PT of 1,058 rupees - data compiled by LSEG
** Stock down 22.78% YTD
($1 = 96.7600 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
Recent news on Can Fin Homes
See all newsJefferies sees India's Can Fin Homes AUM growth normalizing from December quarter
India's Can Fin Homes gains after Q2 profit beats estimates
Brief: Can Fin Homes Ltd Sept-Quarter Net PAT 2.75 Billion Rupees
Brief: Can Fin Homes Implements 2.97 Billion Rupees Seven-Year Digital Transformation Programme
Morgan Stanley sees earnings upcycle for India's housing financiers as concerns ease