Latest News | Icra Net Income Up 52.5 Pc to Rs 37 Cr in Sept-quarter

Mumbai, Oct 20 (PTI) The country's second largest rating agency Icra on Thursday reported a 52.5 per cent jump in net income at Rs 37.2 crore for the three months to September.

The Moody's domestic associate said its consolidated revenue rose by 19.2 per cent to Rs 98.6 crore from Rs 82.7 crore in the year-ago period.

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Its Managing Director Ramnath Krishnan said while the overall credit quality has shown signs of improvement, the bond market issuances continued to remain tepid due to continued uncertainty around yields as the inflation-led hawkish outlook prevailed.

Against this background, Icra's revenue showed robust growth, driven by increased demand in bank loans and market issuances, the latter benefitting from a pick-up in structured finance ratings.

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Knowledge services, a part of Icra Analytics, continued its strong growth momentum, driven by expansion of ESG analytical support and growth in other value-added financial services segments, he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)