CARE Ratings Q1 net rises 41% to Rs 25 cr

Credit Analysis and Research (CARE) Ratings has posted a net profit of Rs 24.67 crore for first quarter ended June 30, up 41 per cent from year ago.
Company's net profit for corresponding June quarter of previous fiscal 2015-16 was at Rs 17.49 crore.
"Total income has increased to Rs 59.64 crore for the quarter ended June 2016 from Rs 51.37 crore year ago," the company said in a regulatory filing.
Higher growth in income and a decline in expenses led to an increase in earnings before interest, taxes, depreciation and amortisation (EBITDA) by 39.4 per cent, the company said.

"CARE has posted fairly good results this quarter. The future course of the economy will guide the progress in the market which will have a bearing on our prospects," MD and CEO D R Dogra said.
The company also announced an interim dividend of Rs 6 per share.

(REOPENS DCM75)
The company also informed that the Board of Directors at the meeting held today appointed Rajesh Mokashi as Managing Director & CEO of the company.
He has been appointed as MD & CEO for a term of five years with effect from August 22, it added.