Care rating bottomline declined marginally in Q3FY18

Care Rating’s standalone revenue for the quarter came in at Rs. 74.81 crore, registering 13.4 per cent yoy increase. This was primarily driven by 14.2 per cent jump in rating revenue to Rs. 74.8 crore from Rs. 65.5 crore in the corresponding quarter last year.

EBITDA for the quarter rose by 4.7 per cent yoy to Rs. 46.35 crore with a corresponding margin contraction of 518 bps. EBITDA margin for the quarter stood at 62 per cent. This margin contraction was due to 40 per cent jump in employee benefit expenses. The PAT for the quarter came in at Rs. 37.28 crore yoy, a decline of 2.2 per cent.

Company has added 843 new clients during Q3FY18 and total 2,512 instruments have been rated during the quarter.

The board has announced third interim dividend of Rs. 6 per share.

Care Ratings 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.

On Wednesday, the stock opened at Rs. 1,368 per share and slipped to intra-day low of Rs. 1347.20, on the BSE.