Krsnaa Diagnostics on Saturday announced that CRISIL Ratings upgraded rating on company's long-term facility worth Rs 200 crore to 'CRISIL BBB+' from 'CRISIL BBB'.
The rating agency reaffirmed its stable outlook on the company. Meanwhile, CRISIL revised company's short term rating facility worth Rs 85 crore to 'CRISIL A2' from 'CRISIL A3+'.Krsnaa Diagnostics is India's fastest growing differentiated diagnostic services provider, both in radiology and pathology. Shares of Krsnaa Diagnostics ended 1.65% lower at Rs 710.35 on Friday.
The company's net profit declined 44.56% to Rs 12.54 crore on 27.9% decline in net sales to Rs 108.26 crore in Q2 September 2021 over Q2 September 2020.
Shares of Krsnaa Diagnostics entered the bourses on 16 August 2021. The scrip was listed at Rs 1025 per share, at a premium of 7.44% to the initial public offer (IPO) price of Rs 954 per share. The issue opened for bidding on 4 August 2021 and closed on 6 August 2021. The price band of the IPO was set at Rs 933-954 per share. The issue was subscribed 64.40 times.
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