CRISIL declined 3.52% to Rs 4,665 after company reported 5.50% fall in consolidated net profit to Rs 137.72 crore in Q1 CY24 as against Rs 145.75 crore posted in corresponding quarter last year.
Revenue from operations jumped 3.18% to Rs 737.68 crore in Q1 CY24 as compared to Rs 714.89 crore posted in Q1 CY23.Total income for the March quarter, was up 3.62% to Rs 758.77 crore as against Rs 732.23 crore posted in the corresponding quarter previous year.
Profit before tax increased marginally to Rs 195.49 crore during the quarter as compared to Rs 193.63 crore recorded in Q1 CY23.
The ratings segment stood at Rs 202.17 crore in Q1 CY24, (down 3.53% QoQ) and (up 8.39% YoY). The research, analytics and solutions segment stood at Rs 535.51 crore in Q1 CY24, (down 24.38% QoQ) and (up 1.34% YoY).
The company expects Indias GDP growth to moderate to 6.8% in fiscal 2025 due to high interest rates, fiscal consolidation and uneven global growth. On the other hand, healthy corporate balance sheets, a robust banking system, the governments capex focus and the broad basing of private investment will be supportive of domestic activity. Amish Mehta, managing director & CEO of CRISIL said, While global economic growth surprised on the upside in 2023, it is now expected to moderate in 2024. The momentum in India continues to be good, underscoring the country's growth potential, though private consumption growth bears watching. Global banking clients remain cautious because of macroeconomic and geopolitical uncertainties, and are aiming for operational efficiencies, regulatory compliance and business transformation.
Meanwhile, the companys board has declared an interim dividend of Rs 7 per share for the financial year ending 31 December 2024, which will be paid on May 14, 2024.
CRISIL is a global analytics company. It is India's foremost provider of ratings, data, research, analytics and solutions.
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