|
Consolidated total income for the quarter ended 30 June 2023, was up 12.07% to Rs 788.80 crore, as compared with Rs 703.84 crore recorded in same quarter last year.
CRISIL stated that during Q2 2023, the impact of foreign exchange movement was not favourable compared with the same quarter last year.
Consolidated total income was up 15.3% to Rs 1,521.0 crore in H1 2023, compared with Rs 1,318.9 crore in the corresponding period of the previous year. Profit after tax increased 14.6% to Rs 296.3 crore in H1 2023, compared with Rs 258.5 crore in the corresponding period of the last year.
Amish Mehta, managing director and CEO, CRISIL, said, “Economic activity globally and in India was resilient during Q2 2023. There are incipient signs of slowdown in banking and financial services spending globally that, in turn, is impacting discretionary spends. Global banking clients are focusing on operational efficiencies, spending to conform to regulatory changes, and for their sustainability and business transformation agendas. Amid this environment, we saw growth across our businesses. We remain committed to growing sustainably and continue investing in technology, people and new capabilities.”
The performance of CRISIL Ratings was supported by higher bond issuances and increased demand for bank loan ratings during the second quarter. Overall, revenue was up 23.2% on-year in Q2 2023. Global Analytical Center (GAC) saw robust analytical coverage delegation by S&P Global Ratings.
The ratings services segment saw revenue grow 22.7% on-year in Q2 2023. Global Research & Risk Solutions (GR&RS) witnessed momentum across lending and risk solutions.
The Research, Analytics & Solutions segment grew 13.1% on-year in Q2 2023. Global Benchmarking Analytics (GBA) continues to strengthen its client engagement through actionable analytics and intelligence. Market Intelligence & Analytics (MI&A) saw momentum in its credit, risk, and research and consulting offerings.
The board of directors declared an interim dividend of Rs 8 per share for the financial year ending December 31, 2023.
CRISIL is a global analytics company. It is India's foremost provider of ratings, data, research, analytics and solutions.
The scrip fell 0.14% to Rs 3,903 on the BSE.
|