Financial Services company CARE Ratings announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24: Operating Income: Witnessed a 27% YoY jump to Rs 78.68 crore. EBITDA: Grew by 31% YoY to Rs 23.36 crore. EBITDA Margin: At 30%. Profit After Tax (PAT): Increased to Rs 23.92 crore, up by 47% YoY. PAT Margin: Came in at 26%. Standalone Q3FY24: Operating Income: Rs 66.68 crore, a significant increase of 22% YoY. EBITDA: Reached Rs 27.04 crore, up by 22% YoY. EBITDA Margin: Held steady at 41%. Profit After Tax (PAT): Grew by 4% YoY to Rs 22.23 crore. PAT Margin: Reported at 29%. Consolidated 9MFY24: Operating Income: Increased by 20% YoY to Rs 241.54 crore. EBITDA: Rose to Rs 83.10 crore, a YoY increase of 9%. EBITDA Margin: Recorded at 34%. Profit After Tax (PAT): Amounted to Rs 78.01 crore, reflecting a 19% YoY growth. PAT Margin: At 28%. Standalone 9MFY24: Operating Income: Recorded at Rs 208.27 crore, marking a year-over-year (YoY) increase of 15%. EBITDA: Stood at Rs 92.54 crore, showing a growth of 8% YoY. EBITDA Margin: Maintained at 44%. Profit After Tax (PAT): Reported as Rs 84.61 crore, which is a 9% increase YoY. PAT Margin: At 35%. Commenting on the results and performance for Q3 & 9MFY24, Mehul Pandya, Managing Director & CEO of CARE Ratings said, “Despite the muted fund-raising scenario witnessed for Q2 & Q3 of FY24, our Company on a standalone basis recorded YoY growth of 15% in income from operations for 9MFY24. The initial ratings business continued to witness good growth. The EBITDA margin continued to remain robust at 44% for 9MFY24. The other income, driven by interest income grew on the back of better yield generated on deposits. On cost parameters, the increase in employee cost is attributed to a talent management initiative. On a Consolidated basis, Income from operations reported growth of 20% on the back of improvement in ratings and non-ratings businesses. The EBITDA margin for 9MFY24 continued to remain strong at 34%. We reiterate that our financial performance should be assessed on a cumulative basis rather than a quarterly basis. Nevertheless, our company on a standalone basis recorded a healthy YoY growth of 22% in income from operations for Q3FY24. The consolidated operating income also recorded a YoY growth of 27% for Q3FY24." Result PDF