CRISIL soars post strong Q3 results

Shares of CRISIL, one of India’s leading ratings agencies, are up more than 6% today.

This comes after it reported a strong set of Q3 numbers on Friday post the market hours. The company’s Q3 net profit was up 33% year-on-year to ₹210 crore. This was aided by a 11.6% rise in income from operation to ₹917 crore.

The management highlighted that the global macroeconomic situation remained complex in 2023. “World growth was higher than expected and inflation, despite peaking, was above target for many central banks. India showed resilience and emerged as the world's fastest-growing major economy,” said the management.

The company said that it witnessed growth across its businesses despite macro uncertainties and cost pressure on global clients. Its ratings business grew 18% in the December quarter. Also, the company’s Market Intelligence & Analytics (Ml&A) witnessed momentum in credit, risk and consulting offerings. The analytics and solution segment also grew 9.8% in the quarter.

Meanwhile, CRISIL also declared a dividend of ₹28 per share. Besides this dividend, the company had doled out three interim dividends, totalling ₹26 per share in the first three quarters of FY24.