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MUMBAI: Rating agency ICRA on Tuesday announced a net profit of Rs 7.6 crore for the first quarter ended June 30, a 62 per cent growth from that in the corresponding period a year-ago.

The company had a net profit of Rs 4.6 crore in the first quarter of 2007-08, ICRA said in a release.

Total revenue of the company rose by 42 per cent to Rs 19.7 crore, against Rs 13.9 crore in the corresponding quarter of the previous fiscal.

ICRA's rating services income for the quarter was Rs 16.3 crore, against Rs 12.1 crore in the corresponding quarter a year ago, reflecting a growth of 34 per cent.

This growth is primarily attributable to the increase in income from corporate sector ratings, ICRA said, adding that Basel II related rating contributed significantly to the growth in the corporate ratings business during the quarter under review. - PTI

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