ICRA reports strong revenue, profit growth in H1 FY2026

ICRA reported a significant increase in revenue and profit after tax for Q2 and H1 FY2026. Q2 FY2026 revenue rose to INR 136.6 Cr from INR 126.1 Cr in Q2 FY225, an 8.3% increase. H1 FY2026 revenue grew 8.4% to INR 261.1 Cr from INR 240.9 Cr in H1 FY2025. Profit after tax also saw substantial growth, with Q2 FY2026 reaching INR 48.0 Cr (up 29.4% from INR 37.1 Cr in Q2 FY2025) and H1 FY2026 hitting INR 90.8 Cr (up 24.4% from INR 73.0 Cr in H1 FY2025).

The Ratings and ancillary services segment's revenue for H1 FY2026 was INR 158.4 Cr, with a segment result of INR 52.5 Cr. The Research & Analytics segment contributed INR 103.6 Cr in revenue and INR 30.1 Cr in segment result for the same period. This performance was bolstered by the acquisition of Fintellix, a Bengaluru-based Reg-Tech and risk solutions provider, for a total consideration of INR 253.25 Cr, enhancing ICRA's capabilities in risk analytics.

ICRA's macroeconomic outlook for FY2026 projects a Real GDP Growth of 6.5%, Real GVA Growth of 6.3%, and a Fiscal Deficit/GDP ratio of 4.4%. The company anticipates a further 25 bps rate cut in December 2025 and an external account current account balance of -1.2% of GDP for FY2026.