Mumbai, January 30, 2025 – CARE Ratings Limited has announced its consolidated and standalone financial results for the quarter and nine months ended December 31, 2024.
Key Financial Highlights (₹ in Lakhs)
Consolidated Financial Performance
Particulars
Q3 FY25
Q2 FY25
Q3 FY24
9M FY25
9M FY24
FY24 (Audited)
Revenue from Operations
9,637.87
11,736.79
7,867.67
29,266.66
24,153.68
33,168.48
Other Income
1,185.12
1,185.82
1,368.25
3,558.01
3,640.25
4,669.02
Total Income
10,822.99
12,922.61
9,235.92
32,824.67
27,793.93
37,837.50
Profit Before Tax (PBT)
3,872.15
6,423.22
3,396.39
13,338.06
11,043.78
14,662.95
Net Profit
2,836.86
4,687.83
2,392.40
9,662.98
7,801.35
10,256.38
EPS (₹) - Basic
9.30
15.41
7.88
31.65
25.71
33.77
Standalone Financial Performance
Particulars
Q3 FY25
Q2 FY25
Q3 FY24
9M FY25
9M FY24
FY24 (Audited)
Revenue from Operations
7,859.31
10,151.08
6,668.22
24,544.74
20,826.94
28,306.57
Other Income
1,142.66
1,175.77
1,057.60
3,587.77
3,329.06
4,696.24
Total Income
9,001.97
11,326.85
7,725.82
28,132.51
24,156.00
33,002.81
Profit Before Tax (PBT)
3,932.62
6,628.82
3,173.35
13,809.09
11,558.20
16,188.03
Net Profit
2,946.44
4,963.51
2,223.49
10,311.11
8,460.75
11,944.18
EPS (₹) - Basic
9.85
16.60
7.47
34.49
28.45
40.12
Segment-Wise Performance (Consolidated)
Segment
Q3 FY25 Revenue
Q2 FY25 Revenue
Q3 FY24 Revenue
9M FY25 Revenue
9M FY24 Revenue
Ratings & Related Services
8,487.90
10,698.04
7,040.85
26,251.14
21,968.61
Others
1,149.97
1,036.55
829.61
3,030.62
2,204.93
Operational & Strategic Highlights
YoY Revenue Growth: Consolidated revenue grew by 22.5% YoY in Q3 FY25.
Profitability Improvement: Net profit increased by 18.6% YoY in Q3 FY25.
Segmental Growth: The Ratings & Related Services segment continues to be the primary revenue driver, contributing 88.1% of total revenue.
Employee Benefit Costs: Increased YoY due to higher ESOP charges and salary increments.
No Outstanding Defaults: The company reported no defaults on loans and debt securities during the quarter.
Management Commentary
Mehul Pandya, Managing Director & Group CEO, stated: "Our sustained revenue growth and robust profitability reflect the strength of our core ratings business and strategic expansion efforts. As we continue to expand our analytical capabilities and market reach, we remain committed to delivering long-term value to our stakeholders."
Strategic Outlook
Expansion in ESG Ratings: The company is focusing on growing its ESG ratings business, capitalizing on increasing regulatory and investor demand.
Technology Integration: Further investment in AI-driven analytics to enhance ratings accuracy and efficiency.
Market Leadership: Strengthening partnerships with corporates and financial institutions to expand its market share in credit ratings.
Investor Focus
Dividend Potential: Strong earnings growth may translate into higher dividend payouts in the upcoming quarters.
Stock Performance: Investors will keenly observe how revenue momentum sustains amid macroeconomic conditions.
CARE Ratings Limited continues to demonstrate a strong financial position, steady revenue growth, and a focused expansion strategy, positioning itself as a leading player in India's credit rating industry.
