CRISIL gains after PAT rises 46% YoY in March'22 quarter

CRISIL advanced 3.19% to Rs 3349.65 after the company recorded 45.6% rise in consolidated net profit to Rs 121.6 crore in Q1 March 2022 from Rs 83.5 crore in Q1 March 2021.

Consolidated income from operations for the quarter ended 31 March 2022 increased by 20.1% to Rs 594.9 crore, compared with Rs 495.2 crore reported in the quarter ended 31 March 2021.

CRISIL said that the first quarter of 2022 was marked by the highly transmissible third COVID-19 wave, leading to temporary disruption of economic activities. The inflationary trends, rising interest rates in the developed economies, and geopolitical situation has introduced additional volatility and impacted investor appetite in the global markets.

In India, corporate bond issuances declined 15% by value and 22% by quantum in Q1 2022 year-on-year (YoY). Bank credit growth to the large corporate segment was muted.

Despite this challenging scenario, the Rating segment revenue grew by 9.7% YoY to Rs 163.32 crore in Q1 2022.

In the current quarter, the Research segment revenues grew by 26.3% YoY to Rs 394.24 crore.

The Advisory Services segment grew its revenues by 9.8% YoY in Q1 2022 to Rs 37.38 crore.

Amish Mehta, managing director & CEO, CRISIL, said: "Rising geopolitical tensions have not only exacerbated existing inflationary pressures but also added downside risks to a slowing world economy. This has forced central banks to accelerate monetary tightening and has raised the specter of tighter financial conditions.

During the March quarter, we saw growth across our business. We continue to drive growth for our core offerings and in data analytics, risk transformation, and sustainability.

The company's board of directors has declared an interim dividend of Rs 7 per share for the quarter ended 31 March 2022.

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

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