Credit Analysis and Research rose 3.02% to Rs 700.55 at 12:30 IST on BSE after net profit rose 6% to Rs 35.10 crore on 6.3% increase in total income to Rs 70.70 crore in Q2 September 2013 over Q2 September 2012.
The result was announced after market hours on Tuesday, 12 November 2013.
Meanwhile, the BSE Sensex was up 11.33 points, or 0.06%, to 20,293.24.
On BSE, 1,856 shares were traded in the counter compared with average volume of 5,247 shares in the past one quarter.
The stock hit a high of Rs 713.50 and a low of Rs 683.15 so far during the day. The stock hit a record high of Rs 986.20 on 26 December 2012. The stock hit a record low of Rs 415.05 on 2 August 2013.
The stock had outperformed the market over the past one month till 12 November 2013, rising 17.83% compared with the Sensex's 1.20% fall. The scrip had also outperformed the market in past one quarter, gaining 20.87% as against Sensex's 7.05% rise.
The small-cap company has an equity capital of Rs 29 crore. Face value per share is Rs 10.
Credit Analysis and Research's (CARE) EBITDA (earnings before interest, taxes, depreciation and amortization) rose 4.9% to Rs 53 crore in Q2 September 2013 over Q2 September 2012.
Ratings income grew by 4.4% in Q2 September 2013 over Q2 September 2012. This was aided by an increase in the number of new bank facilities rated from 1,494 in Q2 September 2012 from 1,863 in Q2 September 2013 and number of new long term debt instruments from 71 in Q2 September 2012 to 85 in Q2 September 2013 along with ongoing survellances of ratings.
The total number of new assignments grew by 16.6% to 2,188 in Q2 September 2013 over Q2 September 2012.
Other income, which also includes income from investments, increased 30.95% to Rs 5.5 crore in Q2 September 2013 over Q2 September 2012.
CARE is the second-largest credit rating agency in India. It provides the entire spectrum of credit rating that helps the corporates to raise capital for their various requirements and assists the investors to form an informed investment decision based on the credit risk and their own risk-return expectations. CARE has also emerged as the leading agency for covering many rating segments like that for banks, sub-sovereigns and IPO gradings.
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