ICRA Q3 net profit declines 20.46 pc to Rs 9.21 cr

NEW DELHI: ICRA Limited today reported a 20.46 per cent decline in its net profit to Rs 9.21 crore for the quarter ended December 31, 2010.

The company posted a profit of Rs 11.58 crore during the same period of 2009-10.

"ICRA's rating business growth was impacted by sluggish debt market issuance and decline in structured finance volumes during this quarter," the company said in a statement.

However, its operating income increased to Rs 30.15 crore in the third quarter of 2010-11 from Rs 26.99 crore in the previous year.

Group ICRA's consolidated net profit too, declined by 22.65 per cent to Rs 11.27 crore in Q3 of 2010-11 from Rs 14.57 crore in the same period of the previous year.

Its consolidated operating income for the quarter under review was Rs 47.21 crore, up from Rs 42.09 crore in October-December 2009-10.

ICRA Ltd's shares closed at Rs 1,133, down 4.32 per cent from their previous close on the Bombay Stock Exchange.

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