A small-cap company with a market valuation of ₹1,802.66 Cr, CARE Ratings Ltd operates in the financial services industry. In less than three decades after it began operations in April 1993, CareEdge Ratings (CARE Ratings Ltd.) has made a name for itself as one of India’s top credit rating companies.
The company has said in a stock exchange filing that its Board of Directors has “Declared and approved payment of Interim Dividend of Rs.10/- (Rupees Ten only) per equity share of face value of Rs. 10/- (Rupees Ten only) each for the Financial Year 2022-23. Pursuant to Regulation 42 of the Listing Regulations, the Company has fixed the record date as Friday, February 10, 2023, for the purpose of determining the eligibility of Members entitled for the payment of Interim Dividend for Financial Year 2022-23.”
On a consolidated basis, the credit rating agency recorded a net profit of ₹16.31 Cr in Q3FY23 as compared to ₹14.89 Cr recorded in Q3FY22, representing a YoY growth of 9.53%. The company recorded revenue from operations of ₹62.14 Cr in the quarter ended December 2022 against ₹56.16 Cr in the quarter ended December 2021, representing a YoY growth of 10.64%. On a consolidated basis, the company’s EPS reached ₹5.38 in Q3FY23 as against ₹4.93 in Q3FY22. On a consolidated basis, the company recorded a net income of ₹73.73 Cr in Q3FY23 compared to ₹62.95 Cr in Q3FY22, representing a YoY gain of 17.12%.
On a standalone basis, the company reported net sales of ₹54.55 Cr in Q3FY23 as against ₹48.65 Cr in Q3FY22, representing a YoY growth of 12.12%. The company declared a net profit of ₹21.39 Cr in the quarter ended December 2022 as against ₹14.89 Cr in the quarter ended December 2021, representing a YoY growth of 43.65%.
On the NSE, the shares of CARE Ratings closed today at ₹608.00 apiece level, down by 2.37% from the previous close of ₹622.75. The stock reported a net volume of 1,50,456 shares as compared to the 20-Day average volume of 1,48,714 shares. The stock touched a 52-week-high of ₹677.00 on (12-Jan-2023) and a 52-week-low of ₹403.00 on (19-May-2022). The stock has rallied 5.82% in the last 1 year but on a YTD basis, it has fallen 2.59%. In the last 6 months the stock has rallied 32.91% but has fallen 2.59% in the last 1 month.
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Article Source:Money Control