ICRA Q1 Results: Profit Rises 19% To Rs 43 Crore
Consolidated revenue from operations increased 8.4% to Rs 124.5 crore.
Domestic rating agency ICRA on Thursday reported a 19.2% growth in profit at Rs 42.8 crore its June quarter.
The firm posted a profit after tax of Rs 35.9 crore in the year-ago period.
Consolidated revenue from operations increased 8.4% to Rs 124.5 crore for the June quarter compared to Rs 114.8 crore a year earlier.
In the current quarter, ICRA has entered into a definitive agreement to acquire 100% shareholding in Fintellix India Pvt. for $26 million (Rs 225 crore). The acquisition is subject to the completion of mutually agreed conditions as per the share purchase agreement.
ICRA managing director and Group chief executive officer Ramnath Krishnan said, "Our ratings business continued to benefit from a supportive credit environment, marked by strong bond issuances and securitisation activity."
"The research & analytics segment remained stable, with growth in risk management and market data offset by the residual impact of ESG project discontinuation in the previous year,"
Given the adverse impact of the escalation in geopolitical conflicts, heightened uncertainty around tariffs, and excess rainfall in May and the second half of June on demand and economic activity, ICRA anticipates India's gross domestic product growth to decelerate to 6.1-6.5% in first quarter fiscal 2026 from the high 7.4% in fourth quarter, FY25.
We have maintained our gross domestic product growth projection for fiscal 2026 at 6.2%, amid expectations of an upbeat outlook for domestic consumption and government capex, even as we remain circumspect around the outcomes for exports and private capex, ICRA said in a statement.
