CRISIL rises after Q4 PAT increases 15% YoY

CRISIL gained 2.38% to Rs 1945.45 after the rating agency's consolidated net profit increased 15.4% to Rs 110.04 crore on 28.6% jump in net sales to Rs 597.24 crore in Q4 December 2020 over Q4 December 2019.

CRISIL stated that the appreciating rupee had an impact on the quarter. Consolidated profit before tax rose by 1.5% to Rs 134 crore in Q4 December 2020 as against Rs 132 crore in Q4 December 2019. Total tax expense declined 34.6% to Rs 24.04 crore in Q4 December 2020 over Q4 December 2019. The result was announced after market hours yesterday, 11 February 2021.

In the research segment, the global research & analytics business saw client wins and continued to grow through Q4. The segment's year-on-year revenue growth was 40.9% in Q4 and 22.8% for 2020. Excluding Greenwich, revenue was lower by 1.0% in Q4 and higher by 1.2% for 2020.

The advisory segment saw good traction during Q4. New mandates were won in the areas of regulatory reporting, credit risk and select city infrastructure projects. However, delays in clients' decision making and implementation affected business. Overall, the segment grew a healthy 16.9% during the quarter, although the full year revenue was lower by 5.9%.

Ashu Suyash, MD & CEO of CRISIL said, "Through a year like none other, CRISIL's businesses demonstrated resilience serving all its clientele with best in class insights, opinions and analytics. This coupled with our proactive pandemic response has enabled continued growth through 2020. The differentiated positioning and high quality of our offerings, global client delivery capabilities and strong client relationships will enable our businesses benefit from the expected economic recovery across the markets we operate. Our thrust on investments in technology, talent and new offerings over the years positions CRISIL well for the future."

For the year ended 31 December 2020, consolidated net profit rose 3.1% to Rs 354.7 crore compared with Rs 344 crore in the corresponding period of the previous year. Consolidated income from operations was up 14.4% to Rs 1,981.8 crore, compared with Rs 1,731.7 crore in the corresponding period of 2019.

CRISIL is a leading global analytics company. It provides ratings, data, research,analytics and solutions with a strong track record of growth, culture of innovation, and global footprint.

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