Financial Highlights for Q2 FY22 and H1 FY22 (Consolidated):
- Total income decreased by 1.9% from Rs. 83.87 crore in Q2 FY21 to Rs. 82.29 crore in Q2 FY22.
- Total expenses Increased by 23.8% during this period.
- Operating profit decreased by 20% from Rs. 41.92 crore to Rs. 33.53 Crore
- Net profit from Rs.35.84 crore to Rs. 27.07 crore, a decrease of 24.5%.
- For H1 FY22 total income increased by 6.15% and net profits decreased by 15.2 %.
Financial Highlights for Q2 FY22 and H1 FY22 (Standalone):
- Total income decreased by 4.8% from Rs. 79.65 crore in Q2 FY21 to Rs. 75.83 crore in Q2 FY22.
- Total expenses have increased by 19.8% during this period.
- Operating profit decreased by 18.9% from Rs. 43.42 crore to Rs. 35.20 crore
- Net profit decreased from Rs. 38.00 crore to Rs. 29.76 crore.
- Operating profit margin and net profit margin were 50.8% and 39.3% respectively in Q2 FY22.
- For H1FY22 total income increased by 3.12 crores and net profits decreased by 7.27 crores respectively. Operating profit margin and net profit margin were at 38.1% and 32.5% respectively.
'The broad-based economic recovery is encouraging and could bear good tidings for a revival in the investment cycle in the next few months. This in turn holds promise for the debt and credit markets. However, we would be cautious in our outlook as we need to see how demand in the festival cum post-harvest season plays off. While we would be working towards expediting our surveillance assignments and bringing in new business, we are sanguine on our subsidiary businesses accelerating in the next two quarters' said Ajay Mahajan, MD & CEO of CARE Ratings. He further added, 'We remain focused on our stated goal of diversification and developing other viable businesses for the CARE Group'.