Shares of Crisil continued their northward movement and hit a fresh 52-week high of Rs 1,745, up 2 per cent on the BSE on Monday in an otherwise subdued market. The stock of the rating agency company was trading at its highest level since October 2018.
In the past three months, the stock has outperformed the market by surging 39 per cent as the company reported a good set of numbers led by rating business for the quarter ended September 2019 (Q3CY19). In comparison, the S&P BSE Sensex has gained 10 per cent during the same period.
In Q3FY19 (July-September quarter), Crisli’s consolidated profit before tax (PBT) grew 13 per cent to Rs 148 crore against Rs 131 crore in the corresponding quarter of previous fiscal. Consolidated total income for the quarter grew 5.5 per cent year-on-year (YoY) to Rs 479 crore while profit after tax (PAT) was up by 16.8 per cent at Rs 105 crore.
The management said the company’s ratings business continues to see strong growth momentum, given our steadfast focus on new client acquisition, and a surge in securitisation transactions. Overall, the ratings segment grew by 16.2 per cent from Rs 123 crore to Rs 143 crore. The Advisory segment expanded its international footprint through wins from World Bank. The business also launched a new risk assessment model - ICON during the quarter, it added.
At 11:15 am, Crisil was trading 1 per cent higher at Rs 1,733, against 0.05 per cent rise in the S&P BSE Sensex. The counter witnessed huge trading volumes with 53,000 shares changing hands on the BSE, as compared to the past two weeks' average of around 1,000 shares.