CARE Ratings reported a 44% rise in standalone net profit to Rs 21.40 crore on an 18% rise in total income to Rs 65.68 crore in the Oct-Dec quarter of FY23 over the Oct-Dec quarter of FY22. Total expenses increased by 8% to Rs 38.30 crore in the Oct-Dec quarter of FY23, compared with Rs 35.60 crore in FY22. Operating profit hit a high of 49% to Rs. 22.25 crore in the Oct-Dec quarter of FY23 from Rs 14.93 crore in the Oct-Dec quarter of FY22. The operating profit margin was 41%, and the net profit margin was 33% in the Oct-Dec quarter of FY23.

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On a consolidated basis, the credit rating agency reported a 9% increase in net profit at Rs 16.31 crore with a 17% increase in total income in the Oct-Dec quarter of FY23 compared to the October-December quarter of FY23.

The company’s board of directors has declared an interim dividend of Rs 10 per share for the October-December quarter of FY23. In India, CARE Ratings has established itself as one of the leading credit rating agencies, providing a complete spectrum of credit ratings that help corporates raise capital for their various needs and investors to manage credit risk. It helps make an informed investment decision based on their own risk-reward expectations.