The Board of Directors of ICRA Limited, in its meeting held on January 28, 2026, approved the unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025. The company reported a significant year-on-year growth in consolidated revenue from operations, which rose by 35.3% to ₹163.59 Crores. However, the consolidated net profit after tax (PAT) for the quarter saw a decline of 7.5% compared to the previous year, primarily due to exceptional items related to the implementation of new Labour Codes. Despite this quarterly dip, the nine-month performance remained strong with a 12.7% increase in PAT.

ICRA Limited, established in 1991, is a leading independent and professional investment information and credit rating agency in India. An affiliate of Moody’s Investors Service, the company operates primarily through two segments: Ratings & Ancillary Services and Research & Analytics. ICRA provides a wide range of services including credit ratings for debt instruments, management consulting, and outsourcing services. The company has a diverse shareholding pattern, with Moody’s Investment Company India Private Limited being the largest promoter holding a 31.66% stake. Other notable investors include Nippon Life India Small Cap Fund (6.73%) and Parag Parikh Flexi Cap Fund (3.04%). Recent strategic updates include the acquisition of Fintellix India Private Limited in late 2025 to strengthen its risk analytics portfolio and the appointment of Shailendra Chikkebagilu Mruthyunjayappa as the new CEO of ICRA Analytics Limited effective February 2026.