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Centrum Broking Report
CareEdge Ltd.'s Q3 FY22 earnings were a miss on lower revenues that was mainly led by other revenue that declined YoY. However, rating fees increased by 5.5% YoY to Rs 510 million, which was a positive.
Opex was largely in-line while Ebit was 19% below estimates at Rs 131 million led by a top-line miss. Fund raising by businesses presented a mixed picture as corporate bond issuances were subdued while the commercial paper segment saw an uptick.
A visible economic bounce back may revive the investment cycle and CareEdge is well poised to leverage this growth. Infrastructure and banking, financial services and insurance could be its growth drivers while traction continues in metals.
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