ICRA Q4 results: Net profit up 21.8% to Rs 47 cr, total revenue rises 13.7%

For financial year FY24, its consolidated net profit rose to Rs 152.24 crore up from Rs 136.72 crore in FY23

The domestic rating agency ICRA Ltd on, Thursday, reported an increase of 21.8 per cent in its consolidated net profit to Rs 47.05 crore for quarter ended March 2023 of the financial year 2023-24 (Q4FY24) as against Rs 38.62 crore in quarter ended March 2023 (Q4FY23).

The consolidated revenue from operations rose by 13.7 per cent year-on-year (Y-o-Y) to Rs 124.0 crore in Q4FY24.

For the complete FY24, its consolidated net profit rose to Rs 152.24 crore up from Rs 136.72 crore in FY23.

Consolidated revenue from operations increased by 10.6 per cent to Rs 446.1 crore in FY24 compared to Rs 403.2 crore in the previous year.

The total dividend recommended by the board for FY24 is Rs 100 per equity share compared with Rs 130 per equity share for the previous year, the company said in a statement.

"ICRA's ratings delivered 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," Ramnath Krishnan, Managing Director and Group CEO of ICRA, said.

(With agency inputs)