CARERATING Soars 20% as Q2 Results Spark Investor Confidence
NSE: CARERATING : Rs.1407 (+20%)
CARE Ratings is a leading credit rating agency in India. The Company provides various credit ratings that help corporates to raise capital for their various requirements and assist the investors in forming an informed investment decision based on the credit risk and their risk return expectations
Why did CARE Ratings hit the 20% upper circuit today?
CARE Ratings’ stock surged by 20% today, hitting the upper circuit limit following the release of its Q2 FY2024 results. This rally was driven by strong performance in the quarter, with the company reporting significant growth in both profits and revenue. Investors reacted positively to the results, resulting in a spike in trading volumes. The strong quarterly performance signals a positive outlook, which has been reflected in the market response today.
CARERATING Q2 Results: revenue rose 17.95% to 117.00 crore and net profit rose 23.40% to 47.00 crore YoY.
The current quarter’s (Sep 2024) revenue is 117.00 crore which is 79.00 crore more than last quarter’s (Jun 2024) revenue. , However, compared to the previous year’s quarter revenue it is greater than Sep 2023 revenue of 96.00 crore.
The current quarter’s (Sep 2024) revenue is 117.00 crore which is 79.00 crore more than last quarter’s (Jun 2024) revenue. , However, compared to the previous year’s quarter revenue it is greater than Sep 2023 revenue of 96.00 crore.
The current quarter’s (Sep 2024) Profit Margin is 0.47 which is 0.28 same compare to last quarter’s (Jun 2024) Profit Margin. , However, compared to last year’s quarter profit margin it is greater than the Sep 2023 profit margin of 0.43.
The current quarter (Sep 2024) EPS is 15.41 which is 6.94 less than last quarter’s (Jun 2024) EPS, However, compared to the previous year’s quarter EPS it is greater than the Sep 2023 EPS of 11.81 .
In the current quarter (Sep 2024) other income is 12.00 crore which is 12.00 crore same compared to last quarter’s (Jun 2024) other income. , However, compared to last year’s quarter other income is greater than Sep 2023 other income of 11.00 crore.