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Rating agency ICRA today reported 96% rise in consolidated net profit to Rs 16.58 crore for the first quarter ended June 30, 2013.
The company's net profit stood at Rs 8.47 crore during the same period a year ago.
The total income of the rating firm grew 23% to Rs 69.22 crore in the reporting quarter as against Rs 56.24 crore posted in the corresponding period of previous fiscal.
Similarly, ICRA's consolidated operating income stood at Rs 58.44 crore, up 15% over last year.
On standalone basis, ICRA reported 87% rise in net profit to Rs 15.20 crore in the first quarter of this fiscal against Rs 8.15 crore in the year-ago period.
Similarly, operating income on standalone basis grew by 16% to Rs 32.11 crore from Rs 27.69 crore reported in the same period of last fiscal.
The growth in operating revenue was led mainly by debt ratings and bank loan ratings, the company said.
The rating agency, however, said that structured finance and public finance ratings remained subdued during the first quarter.
