Quarterly Results: ICRA Ltd

Technical View: 

ICRA Ltd., is currently trading at Rs. 4290, down by 37.3 points or 0.86% from its earlier closing of Rs. 4327.3 on the BSE.

The scrip touched a high and low of Rs. 4346.4 and Rs. 4258 respectively, after opening at 4345. By far 956 (NSE+BSE) shares in totality were traded on the counter; and the stock is currently trading below its 50 DMA.

Consolidated Results Q2FY17: (Rs. in crore)


***EBITDA margin change in bps

ICRA Ltd.'s Q2FY17 consolidated results are a  mixed bag. Revenue has come in conjunction with Bloomberg estimate of Rs 92 cr. EBITDA has surged by 11.2% yoy against estimate of Rs 26 cr. Net profit is 3.6% lesser than the estimated figure of Rs 22.5 cr yoy.

This quarter's revenue has jumped 8.8% yoy to Rs 92 cr,   majorly attributed to 7% yoy growth in rating, research and other services; and 22% yoy growth in outsourced & information services.

ICRA's EBITDA has surged by 18.3% yoy to Rs 29.02 cr and EBITDA margins have expanded by 252 bps yoy to 31.5%. This was anchored by 5% yoy fall in other expenses.  

The company's net profit has expanded 5.5% yoy to Rs 21.68 cr, majorly owing to 25% yoy drop in other income.