Profit before exceptional items and tax for the quarter ended 31 December 2022, rose 15.3% to Rs 207 crore, compared with Rs 179.5 crore in the corresponding quarter of the previous year.

CRISIL's consolidated income from operations for the year ended 31 December 2022, rose 20.3% to Rs 2,768.7 crore, compared with Rs 2,300.7 crore in the corresponding period of the previous year.

Profit before exceptional items and tax for the year ended December 31, 2022, increased 29.6% to Rs 742.4 crore, compared with Rs 572.6 crore in the corresponding period of the previous year.

Profit after tax (excluding impact of exceptional item) for the year ended 31 December 2022, increased 30.7% to Rs 564.4 crore, compared with Rs 431.7 crore in the corresponding period of the previous year.

Profit before tax for the quarter and year ended 31 December 2021, includes exceptional item of Rs 45.8 crore towards profit on sale of property.

Sharp movement in the US dollar versus the Rupee and the British pound supported profitability in the year ended 31 December 2022, which includes Rs 30.1 crore from revaluation of subsidiary loan. The fourth quarter saw appreciation in the British pound versus US dollar, resulting in an adverse impact (including Rs 5.3 crore loss from revaluation of subsidiary loan).

The board of directors has recommended a final dividend of Rs 23 per share.

Amish Mehta, managing director & CEO, CRISIL, said: "Global economic activity held up well in the December quarter with inflation showing signs of peaking. We saw growth across our businesses. The looming slowdown in the global economy, particularly in the US and Europe, is expected to manifest next fiscal, as will the effect of the raft of rate hikes because monetary policy impacts with a lag. India's growth cycles are quite synchronised with advanced economies now. We remain committed to making an impact through investments in technology and talent for creating new products and solutions."

CRISIL Ratings saw momentum in bank loan ratings. Overall revenue was up 9.1% on-year in the quarter, and 13.0% in 2022.

The Ratings segment grew 9.3% in the quarter and 12.0% for the year ended 31 December 2022.

The research, analytics and solutions segment grew 18.6% in the quarter and 23.2% in year ended 31 December 2022.

CRISIL is India's foremost provider of ratings, data, research, analytics and solutions.

Meanwhile, the board of CRISIL has approved acquisition of 100% of the equity share capital of Peter Lee Associates, at a consideration of AUD 6.15 million, subject to closing adjustments. The binding agreement with respect to the acquisition has been signed today. The acquisition will be done through CRISIL's 100% subsidiary, CRISIL Irevna Australia.

Peter Lee delivers benchmarking insights on market positioning, cross-sell, and intelligence on broader market trends through its research programs by engaging with senior business executives. Its revenue from operation in June 2022 was AUD 3.2 milllion.

The acquisition will complement CRISIL's existing portfolio of products and expand offerings to new geographies and segments across financial services including commercial banks and investment management. The deal will accelerate CRISIL's strategy in the APAC region to be the foremost player in the growing market. CRISIL will expand its benchmarking analytics offerings to Australia and New Zealand region.

The scrip rose 2.38% to Rs 3220.15 on the BSE.