.

follow-on-google-news

Share price of one of the most experienced Credit Rating Agencies in India, jumped 19 percent on BSE to hit a new 52-week high at Rs. 6,468.3 in Friday’s trading session, after reporting a rise in PAT by 45.2 percent QoQ and 21.8 percent QoQ. 

With a market capitalisation of Rs. 5,472.25 crore, at 12:18 p.m., the shares of ICRA Limited were trading in the green at Rs. 5,670, up by 4.4 percent. 

The fluctuations in the share prices were observed after the company announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges on Thursday post-market hours. 

Note: If you want to learn Candlesticks and Chart Trading from Scratch, here’s the best book available on Amazon! Get the book now!

The revenue from operations stood at Rs. 124 crore in Q4 FY23-24, indicating a growth of 13.7 percent YoY from Rs. 109.08 crore in Q4 FY22-23, while on a quarter-on-quarter basis, it increased by 8.2 percent from Rs. 114.6 crore in Q3 FY23-24. 

ICRA witnessed a rise in the net profit by 45.2 percent QoQ from Rs. 32.41 crore in Q3 FY23-24 to Rs. 47.05 crore in Q4 FY23-24, and by 21.8 percent YoY from Rs. 38.62 crore in Q4 FY22-23 to Rs. 47.05 crore in Q4 FY23-24. 

“ICRA’s ratings delivered strong revenue growth as bond issuances, bank credit and securitisation continued their healthy growth trajectory. ICRA analytics growth was driven by our focus on growing our core banking and risk business through innovative solutions and the recent acquisition of D2K,” the company’s MD and Group CEO commented. 

The company’s Board recommended a final dividend of Rs. 40 per equity share of the face value of Rs. 10 each. In addition, the Board recommended a special dividend of Rs. 60 per equity share. The total dividend recommended for FY23-24 is Rs. 100 per equity share. 

The overall dividend pay-out for the year, including the special dividend, is Rs. 96.5 crore, compared to Rs. 125.5 crore in the previous year. 

The stock has delivered positive returns of 1.02 percent in six months and 19.65 percent in the last one year. 

ICRA Limited was set up in 1991 as an independent and professional investment information and credit rating agency, by leading financial/investment institutions, commercial banks and financial services companies. 

The company launched Credit Rating Service in 1991 and is primarily engaged in the business of Rating, research and other services. 

Written by Shivani Singh

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.