CARE Ratings Ltd. (NSE: CARERATING) Releases Q3 FY23 Results

Care Ratings is an Indian credit rating agency founded in 1993. It provides credit ratings and research services to various stakeholders including banks, financial institutions, corporate clients, and the government. The company’s services include rating of debt instruments such as bonds, commercial papers, bank loans, and insurance products, as well as providing research and analysis of the economy and various industries. Care Ratings has a strong presence in India and is considered one of the leading credit rating agencies in the country.

CARE Ratings reported strong Q3FY23 results, with standalone income from operations up 12% to Rs 54.55 crore, compared to the same quarter in the previous year. Total income was up 18% to Rs 65.58 crore. Operating profit increased by 49% to Rs 22.25 crore and net profit increased by 44% to Rs 21.40 crore. In 9MFY23, consolidated total income was up 17% and net profit increased 9%. Standalone total income increased 15%, operating profit increased 50% and net profit increased 40% in 9MFY23. The Board declared an interim dividend of Rs 10 per share.