The announcement was made after market hours yesterday, 12 July 2022.

CARE Ratings is one of the leading credit rating agencies in India. It covers many rating segments including manufacturing, infrastructure, financial sector including banks, non-financial services, among others.

The company's consolidated net profit declined 12.16% to Rs 22.90 crore on a 17.23% drop in sales to Rs 65.88 crore in Q4 FY22 over Q4 FY21.

In the past one year, the stock has declined by 37.91% while the benchmark Sensex has risen 2.49% during the same period.