Icra Ratings logs 88% growth in Q1

Mumbai: Icra Ratings on Thursday reported 88 per cent growth in net income at Rs 40.6 crore for June quarter 2023-24 buoyed by higher revenue.

Revenue during the quarter rose 11 per cent on-year to Rs 102.7 crore. Rating revenue grew 16.1 per cent; top line from analytics was 4.4 per cent more than the year-ago period. The quarter saw a relatively buoyant credit market with bond issuances and bank credit showing strong growth. The bond market grew on issuances from NBFCs and banks. The robust upsurge in the quarter was on a low base of last year and found support from moderating yields, it said in a statement.