Care Ratings reported 7.7% yoy growth in revenues for the Dec-20 quarter on consolidated basis at Rs55.60cr. However, the revenues were sharply lower by 26.7% on a sequential basis. The core ratings and review business has fallen on a yoy basis although the other risk solutions business has generated a small growth. However, the real problem is the rating and review business performance on a sequential basis, where the fall has bene really sharp.
The consolidated Profit after tax (PAT) for the Dec-20 quarter was up 7.74% on a yoy basis at Rs18.94cr. The company did take a hit on employee costs but more than made up through control over miscellaneous expenses resulting in a small rise in net profit. As a result, the PAT margins improved from 31.33% in Dec-19 to 34.06% in Dec-20. The sequential fall in net profits was as sharp as 47.15%.
Financial highlights for Dec-20 compared yoy and sequentially
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Care Ratings |
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Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
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Total Income (Rs cr) |
₹ 55.60 |
₹ 56.11 |
-0.91% |
₹ 75.88 |
-26.73% |
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Net Profit (Rs cr) |
₹ 18.94 |
₹ 17.58 |
7.74% |
₹ 35.84 |
-47.15% |
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Diluted EPS (Rs) |
₹ 6.31 |
₹ 5.91 |
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₹ 12.04 |
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Net Margins |
34.06% |
31.33% |
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47.23% |
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