ICRA Q1 Profit Up 19% to Rs 43 cr

New Delhi, Jul 31 (PTI) Domestic rating agency ICRA on Thursday reported a 19.2 per cent growth in profit at Rs 42.8 crore its June quarter.

The firm posted a profit after tax (PAT) of Rs 35.9 crore in the year-ago period.

Consolidated revenue from operations increased 8.4 per cent 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 per cent shareholding in Fintellix India Pvt Ltd for USD 26 million (Rs 225 crore). The acquisition is subject to the completion of mutually agreed conditions as per the share purchase agreement (SPA).


ICRA MD and Group CEO 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 per cent in Q1, FY26 from the high 7.4 per cent in Q4, FY25.

We have maintained our GDP growth projection for FY26 at 6.2 per cent, 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.