CARE Ratings Q2 net rises 14% to Rs 43 crore

Credit Analysis and Research Ltd (CARE Rating) has reported an increase of 14.2 per cent in its net profit at Rs 43.23 crore for the second quarter ended September.
Net profit in July-September of 2015-16 stood at Rs 37.85 crore.
"Total income has increased to Rs 86.70 crore for the quarter ended September 30, 2016, from Rs 80.45 crore in the same quarter a year ago," it said in a regulatory filing.
CARE Ratings also declared a second interim dividend of Rs 6 per equity share for 2016-17.
"While growth in top line and bottom line has been positive resulting in improvement in profit margins, we are waiting for the economy to get into a higher gear which will increase the volume of debt raised through both the banking system and debt market," said MD and CEO Rajesh Mokashi.

Several reforms introduced by RBI on deepening the debt market do augur well for the rating industry and the company expects business to improve further once they are in place, he added.
The CARE Ratings stock closed 2.18 per cent lower at Rs 1,365.55 on BSE.