Bangalore: Can Fin Homes Ltd (CFHL) on July 17 reported a 10 per cent increase in net profit at Rs 4.49 crore for first quarter (Q1) of 2002-03, compared to the same period in 2001 (Rs 4.07 crore).

The AGM held on July 17 approved a 25 per cent dividend for 2001-02 as against 23 per cent in the previous two years, a CFHL release said.

Referring to the Q1 performance, CFHL said loans outstanding registered an increase of 18 per cent reaching a level of Rs 982.57 crore as at June 2002, compared to Rs 832.71 crore a year earlier.

Meanwhile, it said the new interest rates, which come into effect from July 18 irrespective of the loan amount, are, 10 per cent (five years), 10.75 per cent (six- 10 years), 11 per cent (11-15 years) and 11.50 per cent (16-20 years).

"Borrowers have the option to choose either these fixed interest rates or variable interest which is 11 per cent at present for all repayment periods," the release said.

PTI