Q3FY17: ICRA reports poor results, stock plunges
Bhagyashree Vivarekar / 10 Feb 2017
The company reported a PAT figure of Rs 12.32 crore which represents a sequential QoQ decline of 43.17 per cent and a YoY decline of 37.87 per cent.
The investment information and credit rating agency (ICRA) Ltd. reported its results for the quarter ended December 31, 2016 on Thursday.
The total sales for this quarter, Q3FY17, came in at Rs 75.47 crore. This represents a 17.97 per cent sequential decline and 13.78 per cent YoY decline. Its rating, outsourced and information services segment contributed 72 per cent and 16 per cent respectively, to the total revenue.
Its operating profit (EBIT) for the recently concluded quarter amounted to Rs 15.52 crore and the EBIT margin stood at 20.56 per cent. In terms of the bottom-line, The company reported a PAT figure of Rs 12.32 crore which represents a sequential QoQ decline of 43.17 per cent and a YoY decline of 37.87 per cent.
The board of directors of the company have approved the buy-back of its equity shares from open market through stock exchange, at a maximum price of INR 4,500 per equity share.
The company's stock opened gap down for trading on Friday at Rs 4,270 on the BSE, has fallen by 2.5 per cent as compared to previous close of Rs 4,313.7 Its stock is currently trading around the Rs 4,214.95 (11:25 am).
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