Rating agency ICRA Ltd has reported an over two-fold increase in net profit at Rs 8.15 crore for the quarter ended June 30, 2012.
The company had posted a net profit of Rs 3.99 crore in the corresponding quarter last fiscal.
ICRA, an associate of global rating agency Moody’s, said its income during the quarter was at Rs 32.02 crore against Rs 27.12 crore in the year-ago period, the company said in a release.
The rating agency attributed the rise in revenue to the increase in debt ratings, structured finance ratings and public finance ratings.
It added the numbers also include that of its newly acquired Techno Analytics with an equity stake of 50.1 per cent.