Tuesday, October 26, 2021

ICRA reports good Q2FY22 | Stock Jumps | Stock Outlook


ICRA reports consolidated Q2 PAT Rs24.4cr, higher by 30.5% yoy; Stock jumps over 3%

The company’s operating income was at Rs82.7cr for Q2FY22, reflecting a growth of 14.8% yoy.

ICRA Limited announced the consolidated operating income was at Rs82.7cr for the quarter ended September 30, 2021, against Rs72.0cr in the same quarter in last fiscal, reflecting a growth of 14.8% yoy. The Other income was marginally higher by 1.0%, over the corresponding quarter of the previous financial year. Consolidated Profit Before Tax (PBT) was at Rs31.1cr, higher by 21.3%, and Profit After Tax (PAT) was at Rs24.4cr, higher by 30.5% on yoy basis.

At around 2.15 pm, ICRA Ltd was trading at Rs3,657.45 per piece up by Rs118.75 or 3.36% from its previous closing of Rs3,538.70 per piece on the BSE.

Ratings, research, and other services segment, including foreign subsidiaries, has grown by 10.4% on yoy basis. Outsourced and information services segment grew by 28.2% due to increase in business from existing and new clients, whereas Consulting services de-grew by 10.3% due to challenges in the external environment and de-focus on certain unprofitable segments of our business.

Stock Outllok

Stock looks good fundamentally and technically in both long to short term. Hold and accumulate stock can test  5474 in 9 - 12 months time period.

Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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