CRISIL edges higher after Q3 PAT rises nearly 13% YoY; board declares interim dividend of Rs 15/share

CRISIL added 2.77% to Rs 4922.50 after the company reported 12.9% rise in consolidated net profit to Rs 171.55 crore in Q3 CY2024 from Rs 151.99 crore in Q3 CY2023.

Consolidated total income was up 7.9% to Rs 833.2 crore in 03 2024, compared with Rs 771.8 crore in the corresponding quarter of the previous year.

The revenue of CRISIL Ratings grew by 31.5% on-year in Q3 due to the momentum in bond issuances and bank loan ratings.

Global Analytical Centre (GAC) witnessed growth driven by new engagements and an increase in the delegation of ratings surveillance work from S&P Ratings. Overall Ratings business grew 29.6% on-year in Q3. Global Research and Risk Solutions (GR&RS) saw impact of curtailed discretionary spending by global clients in 03. The business saw momentum in buy side offerings and credit lending solutions for banks.

 

Global Benchmarking Analytics (GBA) continued to focus on deepening client relationships and building new benchmarking offerings. The businesses added new logos during the quarter.

Market Intelligence & Analytics (Ml&A) saw traction in credit, risk, and consulting offerings. Overall Research, Analytics & Solutions business grew by 3.8% on-year in Q3.

During Q3 2024, the impact of foreign exchange movement was unfavourable compared to the same quarter last year.

Profit before tax increased 14.1% to Rs 228.5 crore in Q3 2024, compared with Rs 200.3 crore in the corresponding quarter of the previous year.

The board of directors has declared an interim dividend of Rs 15 per share in the current quarter for the financial year ending 31 December 2024.

Amish Mehta, managing director and CEO, CRISIL, said: Global growth patterns are diverging, with the U.S. slowing, the Eurozone recovering, and India displaying robust GDP growth. Geopolitical uncertainties remain a risk.

Our businesses have demonstrated resilience, 'focusing on developing core capabilities through our domain-led IP and digital initiatives, and remain committed to creating long-term value for our stakeholders.

We are investing in new-age technologies, including Gen Al, and have successfully deployed a Gen Al Credit Assessment solution for our global clients.

CRISIL is an analytical company providing ratings, research, and risk and policy advisory services and is a subsidiary of American company S&P Global.

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