The shares of Care rating hit the upper circuit filter of 20 per cent at Rs 1,407.00 per share after hitting the opening bell at Rs 1,261.00 per share on the National Stock Exchange (NSE).
The stock touched a 52 week high level at Rs 1,407.00 per share after Q2 results showed a whopping 31 per cent surge in profit after tax amounting to Rs 46.09 crore in Q2 FY25 comapring to the Rs 35.17 crore in the corresponding quarter in the previous financial-year.
Revenue Q2 FY25
Revenue from operations increased 22 per cent year over year to Rs 117.37 crore in Q2 FY25, while EBITDA (earnings before interest, taxes, depreciation, and amortisation) increased 33 per cent. Year-over-year, the margin was 47 per cent at Rs 55.72 crore.
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Fund raising activity
In Q2 FY25, the economy's fundraising activity improved after the election. The total amount of corporate bonds issued (both private and public) was Rs 3.11 lakh crore, a 68 per cent increase over the same period the previous year. Issues of commercial paper increased by 14 per cent as well, reaching Rs 3.74 lakh crore in Q2 FY25 over the same period the previous year.
Bank credit off take
As of August FY25, bank credit offtake was up 15 per cent year over year, which was about the same as the year before. However, the growth of bank credit to the personal loans segment (16.9 per cent versus 18.3 per cent) and the NBFC segment (11.9 per cent as of August 2024 from 21.3 per cent a year earlier) slowed.
Industrial credit offtake
In the meantime, industrial credit offtake improved dramatically, increasing from 5.3 per cent a year earlier to 9.8 per cent (YoY) as of August 2024. As of August 2024, credit disbursements to large enterprises (which account for 72 per cent of all industrial credit) had improved, growing 7.7 per cent as opposed to 4.3 per cent the previous year.
About company
The company was established in 1993 and provides ratings for a variety of industries, such as engineering, manufacturing, and the financial sector, which includes banking and non-financial services.
