Credit Analysis and Research fell 3.62% to Rs 1,560 at 9:52 IST on BSE after net profit fell 6.34% to Rs 26.24 crore on 15.95% increase in total revenue to Rs 62.43 crore in Q3 December 2014 over Q3 December 2013.
The result was announced after market hours yesterday, 10 February 2015.
Meanwhile, the BSE Sensex was up 110.24 points, or 0.39%, to 28,465.86.
On BSE, so far 5,033 shares were traded in the counter, compared with an average volume of 6,000 shares in the past one quarter.
The stock hit a high of Rs 1,588 and a low of Rs 1,544.50 so far during the day. The stock hit a record high of Rs 1,727.40 on 9 January 2015. The stock hit a 52-week low of Rs 710.50 on 11 February 2014.
The stock had underperformed the market over the past one month till 10 February 2015, falling 2.51% compared with 3.27% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 20.90% as against Sensex's 1.73% rise.
The mid-cap company has an equity capital of Rs 29 crore. Face value per share is Rs 10.
Credit Analysis and Research (CARE) said its ratings revenue rose 16.35% to Rs 53.02 crore in Q3 December 2014 over Q3 December 2013. The higher rating income was on account of new assignments in bank loan ratings, capital market instruments and SME (small and medium enterprises) assignments in addition to surveillance income, the company said in a statement.
Total expenses rose 18.87% to Rs 22.09 crore in Q3 December 2014 over Q3 December 2013. Total expenses increased on account of additional provisions being made for depreciation Rs 0.49 crore, provision for ESOP (employee stock ownership plan) expense Rs 1.27 crore and finance charge Rs 1.10 crore in Q3 December 2014, CARE said.
EBITDA (earnings before interest, taxes, depreciation and amortization) rose 2.56% to Rs 39.18 crore in Q3 December 2014 over Q3 December 2013.
CARE's total active clients have risen to 9,329 at the end of Q3 December 2014 from 8,692 in Q2 September 2014.
Commenting on the performance, D.R. Dogra, MD & CEO, said: "While the economy has shown signs of turning around, we have yet to see a pick-up in bank credit which really reflects the state of industry. Our performance is driven a lot by new business which is dependent on growth in overall investment climate in the economy. Therefore, as one can see some positive results in our forays into the SME segment which is reflected in the higher number of SME assignments, the overall volume of rated debt is lower in Q3. While the market sentiment has turned positive, we feel the year could end on a subdued note."
CARE is the second largest full service rating Company in India. It offers a wide range of rating and grading services across a diverse range of instruments and has over 20 years of experience in the rating of debt instruments and related obligations covering wide range of sectors. The company's list of clients includes banks and other financial institutions, private sector companies, central public sector undertakings, sub-sovereign entities, SMEs and micro-finance institutions, among others. The company also provides issuer ratings and corporate governance ratings and has rated innovative debt instruments, such as perpetual bonds.
Powered by Capital Market - Live News
