ICRA Q4 Results: Net profit jumps 22% YoY to Rs 47 crore

economictimes.indiatimes.com:

Sequentially, the firm’s net profit registered a sharper increase, rising 45% from Rs 32.41 crore in the October-December quarter.

«ICRA's ratings delivered a strong revenue growth as bond issuances, bank credit and securitisation continued their healthy growth trajectory. ICRA analytics growth was driven by our focus on growing our core banking and risk business through innovative solutions and the recent acquisition of D2K,” said Ramnath Krishnan, MD, and Group CEO, ICRA Limited.

The rating firm’s profit before tax was at Rs 62.1 crore in the quarter under review, higher than Rs 50.9 crore the same time last year.

Consolidated revenue from operations rose 13.7% on-year to Rs 124 crore in January-March. For the previous financial year as a whole, ICRA’s profit after tax clocked in at Rs 152.24 crore, 11% higher year-on-year.

ICRA’s board of directors has recommended a final dividend of Rs 40 per share of the face value of Rs 10 each as well as a special dividend of Rs 60 per share.

The company’s ratings revenues registered growth of 13.6% quarter-on-quarter and 12% for the financial year versus the last year.

“In Q4 FY2024, bond issuances grew 15.6% as yields moderated during the quarter compared with the volatility seen in the preceding two quarters. Issuances grew across all segments as they benefited from lower yields with the year-on-year bonds growth at 17.2% for FY2024,” the company said in a statement.