The rating outfit's operating income rose 8.8 per cent to Rs 58.07 crore in the fourth quarter ended March 31 from Rs 53.38 crore in the corresponding period of last year.
Domestic rating agency Icra today reported a 23.2 per cent jump in standalone profit after tax at Rs 20 crore in the quarter ended March, helped by higher revenues and other income. “The rise in PAT has been mainly due to growth in operating revenue and other income, while expenses have increased moderately,” Icra said in a statement here. The rating outfit’s operating income rose 8.8 per cent to Rs 58.07 crore in the fourth quarter ended March 31 from Rs 53.38 crore in the corresponding period of last year.
The increase in operating income was due to growth in debt market related ratings, the agency said. The other income was higher by almost 50 per cent as compared to the corresponding quarter of the previous financial year, mainly due to higher interest income. The Board of Directors of the company recommended a dividend of Rs 27 per equity share, 270 per cent of the face value of Rs 10 each equity share for the financial year ended March 31, 2017, the statement added.