Total income for the December quarter, was up 13.43% to Rs 953.56 crore as against Rs 840.64 crore posted in the corresponding quarter previous year.

Profit before tax jumped 34.69% year on year to Rs 278.81 crore during the quarter, includes a one-off gain of Rs 29.4 crore due to sharp devaluation of the Argentinian peso in December.

On full year basis, the CRISIL’s consolidated net profit rose 16.66% to Rs 658.44 crore on 13.39% increase in revenue to Rs 3139.52 crore in CY23 over CY22.

After strong growth in the corporate bond market during the first half of 2023, issuances declined in the second half as yields rose. Bank credit growth was steady, supported by both retail and services. Overall, revenue was up 15.5% on-year in the quarter, and 16.8% in 2023.

The ratings segment grew 18.3% in Q4 CY23 and 16.4% for the year ended 31 December 2023.

The research, analytics and solutions segment grew 9.8% in the fourth quarter and 12.4% in year ended 31 December 2023.

Amish Mehta, managing director & CEO of CRISIL, "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. We saw growth across our businesses despite macro uncertainties and cost pressure on global clients.

In 2024, the expected soft landing of the global economy could have a bearing on discretionary spends by global clients. We remain focused on customer centricity and delivering value to all our stakeholders through investments in technology, talent and new solutions."

Meanwhile, the company’s board has recommended a final dividend of Rs 28 per share for the year ended 31 December 2023, subject to the approval of the shareholders at the ensuing annual general meeting.

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

The scrip rose 0.18% to close at Rs 4,602.85 on Friday, 16 February 2024.