Operating EBITDA stood at Rs 29.5 crore in the quarter ended 31 March 2023 as compared with Rs 28.8 crore in the quarter ended 31 March 2022. Operating EBITDA margin stood at 43.4% in Q4 FY23 as against 48.3% in Q4 FY22.

On full year basis, the company's net profit jumped 22.9% to Rs 103.80 crore on 15.5% rise in total income to Rs 285.94 crore in FY23 over FY22.

Mehul Pandya, managing director & CEO of CARE Ratings said, "In FY23, gross bank credit growth accelerated by 15%, with the services sector leading the way with a year-on-year increase of 19.8%. Overall, these positive developments bode well for the Indian economy's future growth trajectory.

The Indian economy is relatively better placed in the midst of the global turmoil. Domestic demand indicators are robust, and inflation is moderating. While external demand is likely to remain weak, the external vulnerability has reduced with current account deficit narrowing. With capacity utilisation of the manufacturing sector reaching the long-period average, we expect the private investment cycle to pick up. However, given the uncertain economic environment, the pick-up in private capex is likely to be gradual. CareEdge, with its robust quality led growth, reflected in its Ratings performance and financial performance in FY23, is on the growth trajectory."

The board has recommended a final dividend of Rs 7 per equity share and a special dividend of Rs 8 per equity share for FY23, subject to approval of shareholders. The record date for payment of dividend will be 7 July 2023.

CARE Ratings has established itself as one of the leading credit rating agencies in India. It provides the entire spectrum of credit rating that helps the corporates to raise capital for their various requirements and assists the investors to form an informed investment decision based on the credit risk and their own risk-return expectations.