CRISIL Q1 Profit Dips 5.5% YoY to Rs 138 Crore, Rs 7 Dividend Declared
The Board of Directors of CRISIL Ltd has announced to share the unaudited financial results for the first quarter ended March 31, 2024.
CRISIL's consolidated income from operations for the quarter ended March 31, 2024, rose 3.2% to Rs 737.7 crore, compared with Rs 714.9 crore in the corresponding quarter of the previous year. Consolidated total income for the quarter ended March 31, 2024, was up 3.6% to Rs 758.8 crore, compared with Rs 732.2 crore in the corresponding quarter of the previous year.
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Profit before tax for the quarter ended March 31, 2024, rose 1.0% to Rs 195.5 crore, compared with Rs 193.6 crore in the corresponding quarter of the previous year. Profit after tax for the quarter ended March 31, 2024, was 5.5% lower at Rs 137.7 crore, compared with Rs 145.8 crore in the corresponding quarter of the previous year.
Read Also : CMD, NLCIL, Prasanna Kumar Motupalli, Chief Guest at Anna University Graduation DayCorporate bond issuances grew 9% on-year in the quarter ended March 31, 2024, vs 28% for full year 2023. Bank credit growth was 16.5%, driven by demand from the retail and services sectors. Large corporate credit growth was tepid at 6.6%.
CRISIL expects India's GDP growth to moderate to 6.8% in fiscal 2025 due to high interest rates, fiscal consolidation and uneven global growth. On the other hand, healthy corporate balance sheets, a robust banking system, the government's capex focus and the broad basing of private investment will be supportive of domestic activity.
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