Icra Q3 results: Net profit rises 9% to Rs 24 cr

Rankings agency on Thursday reported an 8.6 per cent rise in its consolidated web revenue to Rs 24.45 crore within the third quarter ended December 2020.

It had posted a web revenue of Rs 22.52 crore throughout the identical quarter a 12 months in the past.

The consolidated complete revenue within the quarter fell to Rs 88.74 crore as in opposition to Rs 91.03 crore in the identical interval earlier fiscal, Icra stated in a regulatory submitting.

The de-growth in consolidated income in Q3 FY21 has been primarily because of a decline in income from the ranking section. The outsourcing, info providers and consulting segments have proven good traction, pushed by development in international and home companies, it stated in a launch.

With regard to addressing sure ongoing issues, Icra stated market regulator Sebi within the second quarter ended September 2020 had enhanced penalty from Rs 25 lakh to Rs 1 crore in respect of an adjudication continuing initiated by it in relation to credit score scores assigned to one of many firm’s clients and buyer’s subsidiaries.

The corporate has deposited the improved penalty throughout December 2020 quarter below protest and has filed an attraction with Securities Appellate Tribunal contesting the stated order, it added.

“The stated attraction is below evaluation,” Icra stated.

The matter pertains to lapses on a part of Icra whereas assigning a credit standing to non-convertible debentures of IL&FS.

Shares of Icra closed flat at Rs 2,778.80 apiece on BSE.

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