ICRA Reports 30% Growth in Q3 Profits

ICRA announced a 30% increase in profits after tax, reaching Rs 42.22 crore in the December quarter. This is up from Rs 32.41 crore in the same period last year. Total income also rose to Rs 139.72 crore. However, shares declined by 3.06% on the BSE.

ICRA, a prominent domestic rating agency, reported a notable 30% increase in its profit after tax, amounting to Rs 42.22 crore for the December quarter of the current fiscal year. This impressive growth is compared to a profit of Rs 32.41 crore recorded during the same period in the previous fiscal year.

The agency's total income also witnessed an upward trajectory, climbing to Rs 139.72 crore in the third quarter, up from Rs 131.76 crore in the same timeframe last year according to a statement filed with regulatory authorities.

Despite the positive financial outcomes, the market reaction was less favorable as shares of ICRA saw a decline of 3.06%, closing at Rs 6,089.60 on the Bombay Stock Exchange (BSE).

(With inputs from agencies.)