Stock Report

ICRA Limited Reports Strong Financial Growth for Q1 FY27: Consolidated Profit After Tax Up 32% Year-on-Year to ₹56.46 Crore

Posted On : 2026-07-31 13:03:43( TIMEZONE : IST )

ICRA Limited (CIN: L74999DL1991PLC042749), a leading Indian credit rating agency, has announced its unaudited consolidated and standalone financial results for the first quarter ended June 30, 2026. The company demonstrated significant growth across its key business lines, recording a double-digit rise in operational revenue and a robust 32% year-on-year increase in net profit.

Executive Summary & Financial Overview

For the quarter ended June 30, 2026, ICRA registered consolidated operational revenues of ₹163.37 crore, representing a 31.23% increase compared to ₹124.49 crore reported in the corresponding quarter of the previous fiscal year (Q1 FY26). Sequential revenues saw a modest decline from ₹174.85 crore recorded in the preceding quarter (Q4 FY26).

Total income for Q1 FY27 reached ₹190.99 crore, supported by an other income contribution of ₹27.63 crore. This reflects a 28.31% expansion over total income of ₹148.85 crore in Q1 FY26 and an advance over ₹189.03 crore in Q4 FY26.

Consolidated Profit After Tax (PAT) expanded to ₹56.46 crore, marking a 32.04% year-on-year increase from ₹42.76 crore in Q1 FY26. On a sequential basis, consolidated PAT gained 7.15% from ₹52.69 crore in Q4 FY26. The profit attributable to the owners of the company stood at ₹56.16 crore, while non-controlling interests accounted for ₹0.30 crore.

Basic Earnings Per Share (EPS) on a consolidated basis stood at ₹58.36 per share (face value of ₹10 per share) for the quarter, rising from ₹44.11 in Q1 FY26 and ₹54.50 in Q4 FY26. Diluted EPS stood at ₹58.27 per share.

Operational Expenses & Exceptional Gains

Total consolidated expenses for the quarter amounted to ₹119.26 crore, compared to ₹90.48 crore in Q1 FY26 and ₹116.24 crore in Q4 FY26.

Employee Benefit Expenses: Increased to ₹87.26 crore from ₹69.71 crore in Q1 FY26 and ₹84.27 crore in Q4 FY26.

Finance Costs: Reduced significantly to ₹0.45 crore, compared to ₹1.65 crore in Q1 FY26 and ₹0.94 crore in Q4 FY26.

Depreciation & Amortisation: Stood at ₹10.54 crore, compared to ₹4.09 crore in the year-ago period.

Other Expenses: Totaled ₹21.01 crore, against ₹15.03 crore in Q1 FY26.

Profit before exceptional items and tax was reported at ₹71.73 crore. During the quarter, ICRA recorded an exceptional gain of ₹4.39 crore (₹438.66 lakh) on account of the sale of property, plant, and equipment. Consequently, Profit Before Tax (PBT) reached ₹76.12 crore, up 30.41% year-on-year from ₹58.37 crore in Q1 FY26 and up 4.56% sequentially from ₹72.80 crore in Q4 FY26. Total tax expenses for the period amounted to ₹19.66 crore.

Consolidated Segment Performance

ICRA operates across two primary business segments: Ratings & Ancillary Services, and Risk & Analytics (formerly Research & Analytics).

1. Ratings & Ancillary Services

Revenue: Generated ₹83.79 crore in Q1 FY27, recording a 12.86% year-on-year growth compared to ₹74.25 crore in Q1 FY26, though lower than ₹91.55 crore reported in Q4 FY26.

Segment Results: Segment profit before exceptional items stood at ₹28.98 crore, compared to ₹23.02 crore in Q1 FY26 and ₹40.45 crore in Q4 FY26. Including the exceptional gain of ₹4.39 crore, segment results after exceptional items stood at ₹33.37 crore.

Assets & Liabilities: Segment assets were reported at ₹136.11 crore, while segment liabilities stood at ₹220.33 crore as of June 30, 2026.

2. Risk & Analytics

Revenue: Recorded robust performance with revenue surging 58.72% year-on-year to ₹80.56 crore, up from ₹50.76 crore in Q1 FY26. Sequentially, revenue was slightly lower than ₹84.31 crore recorded in Q4 FY26.

Segment Results: Segment profit reached ₹15.58 crore, reflecting an increase from ₹14.89 crore in Q1 FY26, though lower than ₹18.81 crore achieved in Q4 FY26.

Assets & Liabilities: Segment assets expanded sharply to ₹364.84 crore compared to ₹102.63 crore in Q1 FY26. Segment liabilities stood at ₹56.22 crore.

Total inter-segment revenues stood at ₹0.99 crore, resulting in net segment revenues of ₹163.37 crore. Unallocable corporate assets stood at ₹1,089.44 crore, bringing total consolidated assets to ₹1,590.39 crore against total liabilities of ₹347.80 crore.

Standalone Financial Results

On a standalone basis, ICRA Limited reported steady revenue growth along with a healthy expansion in bottom-line performance.

Revenue from Operations: Reached ₹81.79 crore, registering a 13.28% year-on-year increase from ₹72.20 crore in Q1 FY26. Revenue declined sequentially from ₹89.40 crore in Q4 FY26.

Total Income: Stood at ₹100.04 crore, supported by other income of ₹18.25 crore, compared to ₹94.38 crore in Q1 FY26 and ₹101.31 crore in Q4 FY26.

Total Expenses: Stood at ₹56.71 crore, compared to ₹54.72 crore in Q1 FY26 and ₹52.29 crore in Q4 FY26. Employee benefits accounted for ₹42.47 crore of standalone expenses.

Profit Before Tax: Reached ₹47.72 crore (including the ₹4.39 crore exceptional gain on property sale), showing a 20.32% year-on-year increase from ₹39.66 crore in Q1 FY26.

Net Profit After Tax: Stood at ₹35.09 crore, up 16.40% year-on-year from ₹30.15 crore in Q1 FY26. Sequentially, standalone net profit was slightly lower than ₹36.40 crore in Q4 FY26.

Standalone EPS: Basic EPS stood at ₹36.46 per share, up from ₹31.34 in Q1 FY26.

The company's paid-up equity share capital remained unchanged at ₹9.65 crore, comprising 96.51 lakh equity shares of face value ₹10 each.

Commenting on the results, Mr. Ramnath Krishnan, MD & Group CEO, ICRA Limited, said: "ICRA delivered a strong quarterly performance, supported by healthy growth in Ratings and sustained momentum in Risk & Analytics. Our Ratings business remained anchored in high-quality analytical delivery and market engagement, while Risk & Analytics benefited from robust demand across data, risk and technology-led solutions. We remain committed to supporting clients and market participants with independent insights and solutions aligned to evolving business and regulatory needs."

Shares of ICRA Limited was last trading in BSE at Rs. 4927.90 as compared to the previous close of Rs. 4780.15. The total number of shares traded during the day was 1199 in over 284 trades.

The stock hit an intraday high of Rs. 4947.00 and intraday low of 4767.00. The net turnover during the day was Rs. 5840872.00.