Crisil shares slip 4% post Q4 earnings, interim dividend

Shares of Crisil slipped nearly 4%  on Tuesday after the ratings agency firm said its Q4 profit fell 5.5% to Rs 138 crore against Rs 146 crore in the corresponding quarter of the previous fiscal. Crisil stock fell 3.75% to Rs 4653.60 against the previous close of Rs 4835.15 on BSE. Markert cap of the firm slipped to Rs 34,861 crore.

The board of the firm also announced an interim dividend of Rs 7 per equity share of face value of Re 1 each, for the financial year ending December 31, 2024. The dividend will be paid on May 14, 2024.

Consolidated income from operations in Q4 climbed 3.2% to Rs 737.7 crore compared with Rs 714.9 crore in the corresponding quarter of the previous year.

Total income for the March quarter climbed 3.6% to Rs 758.8 crore compared with Rs 732.2 crore in the corresponding quarter of the previous year.

Profit before tax in the March 2024 quarter was up 1% to Rs 195.5 crore compared with Rs 193.6 crore in the corresponding quarter of the previous year.

Amish Mehta, Managing Director & CEO, 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. We remain committed to delivering value to all our stakeholders through investments in digital capabilities, talent and new solutions."

Crisil is a leading ratings agency and the foremost provider of high-end research to the world’s largest banks and leading corporations. Crisil delivers analysis, opinions, and solutions that make markets function better.