ICRA Ltd's Q3FY18 consolidated net profit rises 75.61% yoy to Rs26.50cr

The company’s consolidated revenue stood at Rs82.87cr, up 9.81% yoy and 12.33% qoq.

Feb 07, 2018 01:02 IST India Infoline Research Team

ICRA Ltd Q3FY18

Consolidated Results Q3FY18: (Rs. in crore)

Q3FY18 YoY (%)
Revenue 82.87 9.8
EBITDA 33.75 94.3
EBITDA Margin (%) 40.7 1,771
Net Profit (adjusted) 26.50 75.6
***EBITDA margin change is bps
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Reco. Price

3922

Last updated on

25-Jan-2018


ICRA reported better than expected numbers for Q3FY18. Consolidated revenues were up 10% yoy at Rs83cr, higher than consensus estimate of Rs80cr. Lower operating expenses (down 29% yoy) and employee costs (down 9% yoy) propelled EBITDA by 94% yoy to Rs34cr. This was far better than the consensus estimate figure of Rs25cr. EBITDA margin expanded 1,771bps yoy to 40.7%. Consolidated net profit was up 75% yoy at Rs27cr, much ahead of consensus estimate of Rs19cr.


Other highlights

  • Revenue figure for Q3FY18 included income from export incentive worth Rs5.33cr.
  • Revenue growth for the quarter was driven by the “Outsourced and Professional services” segment (48% yoy growth). This segment accounted for 22% of total revenues during the quarter. The “Ratings” segment, which is the largest segment contributing 70% of total revenues, grew 7% yoy.
  • These two segments also saw jump in profitability. The “Outsourced and Professional services” division saw its EBIT margin jump 2,184bps yoy to 42%, while “Ratings” segment margin jumped 935bps yoy to 43%.


Technical View:

ICRA Ltd is currently trading at Rs. 3,825, down by 19.95 points or 0.52% from its previous closing of Rs. 3,844.95 on the BSE.
The scrip opened at Rs. 3,751 and has touched a high and low of Rs. 3,880 and Rs. 3,751 respectively. So far 1,249(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.


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