ICRA Shares Rise on Strong Q1FY26 Earnings Amid Economic Headwinds

ICRA Ltd shares gained 2% in early trading after reporting a 19.48% year-on-year increase in consolidated net profit for Q1FY26, reaching ₹42.44 crore. Revenue from operations ROSE 8.4% to ₹124.5 crore, with ratings and ancillary services revenue growing 14.2%.

"Our ratings business continues to benefit from robust bond issuances and securitization activity," said MD and Group CEO Ramnath Krishnan. The research segment remained stable despite ESG project discontinuations from the previous year.

The ratings agency anticipates India's GDP growth will slow to 6.1-6.5% in Q1 FY26 from 7.4% in Q4 FY25, citing geopolitical conflicts, tariff uncertainties, and excess rainfall impacts. Full-year FY26 GDP projection remains at 6.2%, supported by domestic consumption and government capex expectations.