Can Fin Homes Q2 FY24 Net Profit Rises 11.54%

19 Oct 2023 CW Team

Can Fin Homes reports 11.54% growth in Q2 FY24 net profit, reaching Rs 1.58 billion compared to Rs 1.41 billion in the same period last fiscal. Total income from operations rises to Rs 8.71 billion, a 32.47% increase from the previous year's Rs 6.57 billion.

However, during the quarter, an isolated fraud event occurred in the Ambala branch. Internal staff colluded in a fraud spanning 22 months from September 2021 to July 2023. The fraud was detected after Q1 FY 2023-24 results were declared. Can Fin Homes conducted a thorough investigation and determined that the incident was limited to the Ambala branch, with a total fund defalcation of Rs. 396.7 million. The company has filed an FIR against the employees involved and has taken measures to mitigate the effects of the fraud. The full amount of the fraud, with a post-tax impact of Rs. 296,9 million, has been provided for during the current quarter.

As of September 30, 2023, Can Fin Homes' net worth is Rs 396.1.32 billion, with a debt-equity ratio of 7.73, a total debts to total assets ratio of 0.89, a net profit margin of 20.15%, gross non-performing assets (NPAs) at 0.76%, and net NPAs at 0.43%.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..