{
CARE Ratings Limited

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}

CARE Ratings shares surge 20 percent on strong Q2 financial results

CARE Ratings surged 20% to a 52-week high of Rs 1,409 on October 24, following strong Q2 results. The company reported a 31% YoY increase in consolidated profit after tax to Rs 46.88 crore, with revenue from operations rising 22% YoY to Rs 117.37 crore. The impressive performance was driven by growth in both its core ratings business and new non-rating verticals, with EBITDA climbing 33% YoY to Rs 55.72 crore and an EBITDA margin of 47%. Management highlighted momentum in initial ratings for capital market instruments and noted a slowdown in lending to NBFCs and personal loans due to higher risk-weighting norms.
Moneycontrol
Indian Rupee CARE Ratings Limited IND
Finance & Economy, Market Report
11:43 24.10.2024
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