CRISIL Q1 Profit Dips 5.5% YoY to Rs 138 Crore, Rs 7 Dividend Declared

by Psu Connect
Date: 16-04-24

The Board of Directors of CRISIL Ltd has announced to share the unaudited financial results for the first quarter ended March 31, 2024.

CRISIL Q1 Profit Dips 5.5% YoY to Rs 138 Crore, Rs 7 Dividend Declared

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.

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.

Corporate 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.