Q3 FY21 Results First Cut - Can Fin Homes - YES Securities
Q3 FY21 Results First Cut - Can Fin Homes - YES Securities Posted On: 2021-01-27 09:04:25 (Time Zone: Arizona, USA) - Marginal NII/NIM beat despite aggressive pricing corrections taken in Q3 - NII came at Rs2.14bn v/s our expectation of Rs2.1bn - Funding cost was 8% lower qoq suggesting seminal fall in cost of borrowing and sustained funding tailwinds - Employee cost stood higher than even pre-Covid levels (up 39% yoy) - probably manifesting the changes being done in branch operations and credit (we have picked this from ex-employees) - Negligible provisions indicative of lower-than-expe...