Can Fin Homes surges 9% as net profit soars 49% YoY in June quarter

Pre-provision operating profit (PPOP) was up 10 per cent QoQ and 40 per cent YoY to Rs 215 crore

Shares of Can Fin Homes surged 9 per cent to Rs 589.70 on the BSE in Friday's intra-day trade after the company reported a healthy set of earnings in June quarter, with profit after tax (PAT) jumping 49 per cent year-on-year (YoY) at Rs 162 crore driven by provision write-backs. Pre-provision operating profit (PPOP) was up 10 per cent quarter-on-quarter (QoQ) and 40 per cent YoY to Rs 215 crore.

At 9:40 AM, the stock was trading 7 per cent higher at Rs 578, as compared to 0.41 per cent gain in the S&P BSE Sensex. It had hit