COMPANIES

No Data Found

NEWS

No Data Found
Advertisement
CARE Ratings shares zoom 20% to hit one-year high levels post Q2 earnings

CARE Ratings shares zoom 20% to hit one-year high levels post Q2 earnings

CARE Ratings reported a 31.05 per cent year-on-year (YoY) growth in its consolidated profit after tax (PAT) for the July-September quarter (Q2) of financial 2024-25 (FY25). During the quarter under review, profit came at Rs 46.09 crore as against Rs 35.17 crore in the year-ago period.

Prashun Talukdar
Prashun Talukdar
  • Updated Oct 24, 2024 12:46 PM IST
CARE Ratings shares zoom 20% to hit one-year high levels post Q2 earningsIn Q2 FY25, revenue from operations grew 22 per cent (YoY) to Rs 117.37 crore.

CARE Ratings Ltd shares surged 20 per cent to scale their 52-week high level of Rs 1,409.15 in Thursday's trade. The stock has gained 50.58 per cent on a year-to-date (YTD) basis.

The company reported a 31.05 per cent year-on-year (YoY) growth in its consolidated profit after tax (PAT) for the July-September quarter (Q2) of financial 2024-25 (FY25). During the quarter under review, profit came at Rs 46.09 crore as against Rs 35.17 crore in the year-ago period.

Advertisement

Related Articles

In Q2 FY25, revenue from operations grew 22 per cent (YoY) to Rs 117.37 crore, while earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped 33 per cent YoY to Rs 55.72 crore and margin stood at 47 per cent.

CARE Ratings' Board of Directors have also declared an interim dividend of Rs 7 per share for the second quarter of FY25.

"The company has shown good performance in ratings as well as non-rating businesses. Reflective of our commitment towards quality led growth, ratings business continued to show momentum in initial ratings of capital market instruments, securitisation and bank debt," said Mehul Pandya, Managing Director & Group
CEO of CareEdge. CareEdge is the parent company of CARE Ratings.

We are proud to be the first rating agency from India to foray in the sovereign & global scale ratings, with the announcement of sovereign ratings of 39 countries at the launch event of CareEdge Global IFSC Ltd, he added.

Advertisement

Technically, the counter traded higher than the 5-day, 10-, 20-, 30, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The scrip's 14-day relative strength index (RSI) came at 74.87. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the company's stock has a price-to-equity (P/E) ratio of 28.82 against a price-to-book (P/B) value of 4.62. Earnings per share (EPS) stood at 40.75 with a return on equity (RoE) of 16.05.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Oct 24, 2024 12:36 PM IST
    Post a comment0