ICRA report 7.3% growth PAT for Q3 FY'22; stock zooms near 3%

27 Jan 2022 , 04:02 PM

ICRA Ltd. announced its quarterly results as its other income was at Rs. 7.2 crore, lower by 26.6% during the quarter on a y-o-y basis, due to a lower interest rate environment.

For the quarter ended December 31, 2021, the company’s EBITDA stood at Rs. 48.7 crore, as against Rs. 46.9 crore in the previous corresponding quarter, showing a growth of 3.8%.

The company reported PBT for the quarter at Rs. 21.7 crore as against Rs. 20.4 crore y-o-y basis, growth of 6.2%.

The PAT for the quarter was seen at Rs. 16.5 crore as against Rs. 15.4 crore y-o-y basis, reflecting a growth of 7.3% due to higher revenue and lower overall expenses.

For the nine months ended on December 31, 2021, ICRA’s standalone revenue from operation was Rs. 142.4 crores, compared to Rs. 132.8 crore for the corresponding 9M period, higher by 7.2%.

The company’s PAT for Q3 FY’22 stood at Rs. 54.5 crore, as compared to Rs. 36.7 crore for Q3 FY’21, higher by 48.7% YoY.

The substantiated growth in the Company’s ratings revenue during the quarter was achieved mainly due to an increase in fresh business.

During this quarter, bond issuances witnessed a growth over the corresponding quarter of the previous year supported by issues from Banks and NBFCs. The bank credit to large industries however continued to below, due to supply-side disruption in the economy.

The stock ended at Rs3,567.85 up by Rs107.65 or 3.11% from its previous closing of Rs3,460.20 on the BSE.