Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

ICRA Limited Board approves audited financial results for Q4, FY2020

Posted On: 2020-07-14 19:01:35


The Board of Directors of ICRA Ltd, at its meeting held on July 14, 2020, approved the audited financial results of the company (standalone and consolidated) for the fourth quarter and the year ended March 31, 2020.

Standalone Financial Results

For the quarter ended March 31, 2020, the company's operating income was Rs 52.76 crore, against Rs 57.92 crore in the corresponding quarter of the previous year, a decline of 8.9%. Both bank loan and debt market segments remained adversely impacted during the quarter. The other income in the quarter declined marginally on y-o-y basis.

The employees benefit expenses declined in the quarter on y-o-y basis by 24.1% mainly due to true up of variable pay provision for the full year, on account of lower profitability. Other expenses were higher by 5.1% on y-o-y basis, mainly on account of legal & professional charges and additional audit fees incurred due to ongoing regulatory matters and higher CSR spent. Overall expenses have contracted by 11.7% as compared to the corresponding quarter of the previous year.

The PBT for the quarter was at Rs. 28.60 crore, lower by 2.4% as against Rs. 29.32 crore y-o-y basis and PAT was at Rs. 21.08 crore, higher by 3.9%, due to lower tax rate applicable in the current financial year.

For the financial year ended March 31, 2020, the company's operating income was Rs 207.78 crore, lower by 9.7% as against previous financial year. The company reported a PBT of Rs 92.05 crore (29.8% y-o-y decline) and a PAT of Rs 64.98 crore (32.3% y-o-y decline). The profitability during the year impacted due to degrowth in revenue and higher expenses on account of legal & professional, additional audit fees and higher CSR spent.

Consolidated Financial Results

For the quarter ended March 31, 2020, the consolidated operating income (including export incentive) was Rs 87.07 crore, against Rs 83.65 crore on y-o-y basis, reflecting a growth of 4.1%. The PBT for the quarter was at Rs. 41.90 crore, higher by 12.3%, and PAT was at Rs. 34.86 crore, higher by 32% on yo-y basis, due to lower tax rate and deferred tax adjustment after abolishment of dividend distribution tax.

The growth in consolidated revenue for the quarter ended March 31, 2020 was supported by consulting business and the outsourcing & information services business, driven by growth in the domestic and global businesses.

For the financial year ended March 31, 2020, the consolidated operating income was Rs 321.09 crore against Rs 328.06 crore, reflecting a degrowth of 2.1%, on y-o-y basis. The company's consolidated PBT was lower by 13.5% and the PAT was lower by 8.2% on y-o-y basis.

The Board had approved the merger of two of its wholly-owned subsidiaries - ICRA Management Consulting Services Limited ("Transferor Company"), involved in consulting services, with ICRA Analytics Limited (erstwhile known as ICRA Online Limited) ("Transferee Company"), involved in outsourcing and information services, subject to requisite approvals. The National Company Law Tribunal ("NCLT"), New Delhi and Kolkata have sanctioned the scheme of amalgamation filed by the Transferor Company and Transferee Company, respectively. The NCLT, Kolkata order was filed with the Registrar of Companies ("RoC") on 15th November 2019 and merger became effective from the said date.

Shares of ICRA LTD. was last trading in BSE at Rs.2481 as compared to the previous close of Rs. 2505. The total number of shares traded during the day was 12 in over 11 trades.

The stock hit an intraday high of Rs. 2485.05 and intraday low of 2480.1. The net turnover during the day was Rs. 29801.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Sonata Launches 'CSK 2020 Edition' for Chennai Superkings Fans

Universal Cables Ltd updates on capacity expansion

Innovators Facade Systems Limited receives work order of Rs. 26 crores

MRPL shareholders approve proposal to raise funds of Rs. 5000 crore

ITC Ltd increases stake in Delectable Technologies Pvt Ltd

PNB associate bank, JSC Tengri Bank's License revoked

ITC Ltd.'s Sunfeast YiPPee!'s 10th Anniversary celebrations make a GUINNESS WORLD RECORDS® achievement

RITES Ltd board approves buy back through tender offer at Rs. 265

Route Mobile Limited shares to list on Monday - Sep 21, 2020

Mysore Petro Chemicals Limited to write-off GBP 770,000

Somany Ceramics adds a dash of style at T2, Mumbai Airport.

United Spirits Ltd announces resignation of CFO

Lords Chloro Alkali Ltd posts loss of Rs. 1.08 crore in Q1FY21

Zydus Cadila receives final approval from USFDA for Potassium Chloride Extended-Release Tablets

ICRA upgrades rating of Escorts Ltd

Bhatia Mobile to Migrate to main board of BSE

Avantel Ltd receives order of Rs. 15.97 crore from Bharat Electronics Ltd

Magna Electro Castings Ltd board approves buy back at Rs. 175

TATA Tea Chakra Gold Becomes Official Tea Partner for Chennai Super Kings in IPL 2020

Tiger Logistics India Limited provides future Business Outlook

Dr. Reddy's Laboratories announces settlement of U.S. Revlimid® Capsules patent litigation with Celgene

TVS Motor Company expands and strengthens its presence in Colombia

ICICI Securities successfully closes ~INR 6,000 mm IPO of Route Mobile Limited

EIH Limited approves rights issue, fixes Sep 23, 2020 as record date

Hindalco and Hindustan Copper sign MoU for supply of copper concentrate

Kilpest India Limited to merge subsidiary with itself, change name as 3B BlackBio Dx Ltd

Sterling and Wilson Solar Limited Signs order of 106.71 MW worth USD 62.6 mn in Chile

South Korea donates One lakh masks to TVS Motor Company for free distribution to aid India's fight against COVID-19

TCS Recognized as a Leader in Cloud-Native Application Development Services by Everest Group

Power Grid Corporation of India Ltd receives approval for setting up of InvIT

Mahindra Happinest® sells 100+ homes online within a week at 'Happinest Palghar'

Ramco Systems signs agreement with Arla Foods

IRCON International Ltd secures order worth Rs. 1900 crore

Phoenix Group Partners with TCS to Introduce Enhanced Analytics for Workplace Pension Clients

L&T Construction secures order from Northern Coalfields Ltd

Dr. Reddy's announces the launch of Over-the-Counter Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% and 0.1%, the store-brand equivalent of Pataday®, the Eye Allergy Drop in the U.S. Market

Ashok Leyland receives an order for 1400 ICVs from Procure Box

PTC India Financial Services Ltd receives Rs. 115.57 crore IT refund

Thomas Cook India & SOTC partner with India's favourite storyteller Amar Chitra Katha

Shankar Lal Rampal Dye-Chem Ltd Board to consider Bonus Issue of Equity Shares

Dhanuka Agritech Ltd fixes Sep 28, 2020 as record date for buy-back

Sterling and Wilson Solar Limited declares financial results for quarter ending 30th June 2020

JMC secures new orders of Rs. 1,342 Crores

ABM Knowledgeware Ltd bags Rs 127.44 Crores order for SAP Technology Modernization

Titan Company with SBI launches India's first contactless payment watches

Bajaj Consumer Care Joins hand with IndiaMART, to enhance their digital presence in B2B market segment

ICICI Securities successfully closes ~INR 7,020 mm IPO of Happiest Minds Technologies Limited

The Bank of Bahrain and Kuwait goes live with iGTB's Contextual Digital Transaction Banking platform to support growth

HCL and Google Cloud Expand Partnership to Deliver Accelerated Business Intelligence Platform

CARE Ratings reaffirms 'CARE A-' rating with stable outlook for Jindal Stainless (Hisar) Limited







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019