Financial Services company CARE Ratings announced Q4FY24 & FY24 results: Standalone Total Income: "Total income for CareEdge Ratings Limited increased by 15% to Rs 330.0 crore for FY24." Standalone Operating EBITDA and Profit After Tax: "The Operating EBITDA grew by 10% to Rs 127.5 crore and Profit After Tax (PAT) saw an ascent of 15% at Rs 119.4 crore for the fiscal year 2024." Dividend Declaration: The Board of Directors has recommended a final dividend of Rs 11 per share, making the total dividend Rs 18 per share for the year. Commenting on the results for Q4 & FY24, Mehul Pandya, Managing Director & Group CEO of CareEdge, said: "The income from operations of our Company rose 14% in FY24 on a Standalone basis as the initial ratings business continued to witness strong growth. The EB/TOA margin remained robust at 45% for FY24. Our other income increased on back of better yield on deposits. Notwithstanding the increase in employee cost for Talent management, our PAT on a Standalone basis improved by 15%, while on a Consolidated basis, it was up by 20% in FY24. The Consolidated income from operations grew 19%, aided by the increase in the ratings and non-ratings income. The Consolidated EB/TOA margin for FY24 came in strong at 34%. We reiterate that our financial performance should be assessed on an annual basis rather than quarter-on-quarter. Nevertheless, our Company on a Standalone basis recorded a healthy YoY growth of 10% in income from operations for Q4FY24. The Consolidated income from operations also recorded a YoY growth of 16% for Q4FY24. I am happy to share that The Board of Directors has recommended a final dividend of Rs 11/- per share (of Rs 10/-face value) which will take the total dividend declared for the year to Rs 18/- per share." Result PDF
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