ICRA Q3 net profit up 21 pc at Rs 17.78 crore

Credit rating agency ICRA Ltd today registered a 21 per cent rise in its net profit at Rs 17.78 crore for Q3 ended December 2014, from Rs 14.75 crore in the same period last year.
The company's consolidated operating income for Q3, 2014-15 shows increase of about 12 per cent to Rs 82.98 crore from Rs 74.21 crore in the corresponding quarter of the previous fiscal, a company statement said here.
Group ICRA's consolidated total income for Q3, 2014-15 stands at Rs 85.23 crore as against Rs 74.43 crore for Q3, 2013-14, reflecting growth of 15 per cent, the higher growth being attributable also to the 891 per cent increase in other income during the period under consideration.

In terms of business segments, the growth in operating revenue was mainly led by debt ratings, bank loan ratings and SSI ratings during Q3, 2014-15. In terms of clientele, the growth was driven both by the acquisition of new clients and repeat business from existing ones, the release said.
Group ICRA's consolidated operating income stood at Rs 228.82 crore in 9 months of 2014-15 as against Rs. 202.67 crore in 9 months of 2013-14, reflecting growth of 13 percent.
Group ICRA's consolidated total income was at Rs 251.66 crore in 9 months, 2014-15 as against Rs 218.66 crore in 9 months, 2013-14, reflecting growth of 15 per cent.

Over the same horizon, Group ICRA's profit after tax (after minority interest) shows a decline of 11 per cent from Rs 46.89 crore to Rs 42.43 crore, mainly because of prior-period adjustments and impairment of goodwill in one of the subsidiary companies.