ICRA reports 22% rise in Q4 PAT at ₹47.05 crore, stock up nearly 20%

ICRA on Thursday announced a 22% year-on-year (YoY) growth in its net profit at ₹47.05 crore in the fourth quarter of the financial year 2024. The company’s consolidated revenue from operations saw a growth of 14% YoY to ₹123.96 crore. Shares of the company were trading nearly 5% higher on Friday following the announcement.

The company’s operating earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 31% YoY to ₹49.84 crore during the quarter. For the financial year ending on March 31, 2024, the company saw its net profit rise by 11.35% YoY to ₹152.24 crore. ICRA’s consolidated revenue from operations during the year grew 10.63% YoY to ₹446.11 crore. The operating EBITDA for FY24 saw a rise of 4.1% YoY to ₹148.76 crore.

The company said its wholly-owned subsidiary, Pragati Development Consulting Services has received approval from the Securities and Exchange Board of India (SEBI) to register as a Category-I ESG Rating Provider (ERP).

Ramnath Krishnan, managing director and group chief executive officer of the company said ICRA analytics growth was driven by the firm’s focus on growing its core banking and risk business through innovative solutions and the recent acquisition of D2K.

In FY24, ICRA published 662 research reports across 65 sectors. The company said that it is watchful about the momentum of economic activity in the first half of FY25 as it could be impacted by a slowdown in government capex during the general elections and monsoons. ICRA expects the GDP to come in below 6.5% in the first half of the fiscal year.

The board of directors recommended a final dividend of ₹40 per share along with a special dividend of ₹60 per share. The total dividend declared for FY24 amounts to ₹100 per share.

Shares of the company have risen by nearly 1.5% since the beginning of the year. The stock has gained over 20% in the last one year.