ICRA, a leading credit rating agency and analytics firm, announced its financial results for the second quarter and half year ended September 30, 2025.

For Q2 FY2026, consolidated revenue from operations stood at Rs 1.36 billion, an increase of 8.3 per cent over Rs 1.26 billion recorded in the corresponding quarter last year. The company’s profit after tax (PAT) rose 29.4 per cent to Rs480 million, compared to Rs 370.1 million in Q2 FY2025. For the half year ended September 2025, consolidated revenue grew 8.4 per cent year-on-year to Rs 2.61 billion, while PAT increased 24.4 per cent to Rs 900.8 million, up from Rs 730 million in the same period last year.

Commenting on the performance, Ramnath Krishnan, MD & Group CEO, ICRA, said, “ICRA’s strong financial performance this quarter was driven by robust growth in our Ratings segment, reflecting the consistent quality and credibility of our ratings, along with solid momentum in our Research & Analytics business, supported by marquee client wins and an expanded product suite. The acquisition of Fintellix marks a pivotal step in our ambition to lead in risk analytics. By combining ICRA’s domain expertise with Fintellix’s innovative technology, we are better positioned to help clients anticipate and manage risks in an evolving regulatory environment.”

During Q2 FY2026, ICRA deepened its market engagement through several flagship initiatives, including two outreach events—one in Delhi focusing on the Renewable Energy and Infrastructure sectors, and another in Mumbai centered on the NBFC sector. The company also served as the Knowledge Partner for the Annual Infrastructure Conclave 2025 organized by NaBFID, where its report was unveiled by leading financial regulators. Over the quarter, ICRA conducted 16 market outreach programmes and six webinars addressing key sectoral developments.

The company further strengthened its research vertical by publishing 145 research reports across 60 sectors, encompassing thematic analyses and quarterly updates that reflect its comprehensive approach to market insights.

ICRA projects India’s GDP growth at 6.5 per cent in FY2026, supported by potential tailwinds from the anticipated India–US trade agreement and a stronger festive season performance driven by recent GST rate adjustments.