Mumbai: ICRA Limited reported consolidated revenue from operations of Rs 174.9 crore in Q4 FY26, up 28 percent from Rs 136.2 crore in the same quarter last year. Net profit fell 5.8 percent year-on-year to Rs 52.7 crore from Rs 56.0 crore.
Total income for the quarter rose to Rs 189.0 crore compared with Rs 156.8 crore a year earlier. The company said both its ratings and research businesses recorded growth during the quarter.
Sequential And Annual Growth
On a quarter-on-quarter basis, revenue increased 6.9 percent from Rs 163.6 crore in Q3 FY26, while profit rose 35 percent from Rs 39.1 crore. Profit before tax stood at Rs 72.8 crore against Rs 54.9 crore in the previous quarter.
Total expenses during the quarter were Rs 116.2 crore, slightly lower than Rs 117.3 crore in Q3 FY26.
The company had reported a one-time impact of Rs 6.9 crore in Q3 FY26 due to implementation of new labour codes, which affected sequential comparison.
Tax expense for Q4 FY26 stood at Rs 20.1 crore compared with Rs 15.9 crore in the previous quarter.
What Drove The Numbers?
ICRA’s ratings and ancillary services segment reported revenue of Rs 91.6 crore in Q4 FY26, while the research and analytics segment contributed Rs 84.3 crore.
Segment profit from ratings and ancillary services rose to Rs 40.5 crore, while research and analytics profit increased to Rs 18.8 crore.
The company also benefited from the acquisition of Fintellix India Private Limited during FY26. ICRA said Fintellix contributed revenue of Rs 51.7 crore and net profit of Rs 6.9 crore between October 2025 and March 2026. Earnings per share for Q4 FY26 stood at Rs 54.50 against Rs 57.94 in Q4 FY25.
Full-Year Performance
For FY26, consolidated revenue from operations rose 20 percent to Rs 599.5 crore from Rs 498.0 crore in FY25. Net profit increased 6.6 percent to Rs 182.5 crore from Rs 171.2 crore.
The board recommended a final dividend of Rs 105 per share, including a special dividend of Rs 35 per share to mark the company’s 35th year of operations.
Disclaimer: This report is based on audited financial results filed by the company and does not constitute investment advice.
