CRISIL garners 17.5% YoY growth in Q4 consolidated PAT; declares final dividend of ₹23 per share
1 min read . Updated: 17 Feb 2023, 09:55 PM IST
Premium- Overall, in 2022, CRISIL records double-digit growth in both PAT and income from operations.
- The company declared final dividend of ₹23 per equity share.
The rating agency, CRISIL posted a consolidated net profit of ₹158 crore in the fourth quarter of the year 2022, rising by 17.5% from ₹134.5 crore in the corresponding quarter of the previous year. While consolidated income from operations came in at ₹822.3 crore in Q4 CY22 as against ₹706 crore a year ago same period, registering a growth of 16.5%.
CRISIL follows a calendar year for reporting its financial results.
For the year ended December 31, 2022 period, CRISIL's PAT stood at ₹564.4 crore versus ₹431.7 crore in the same period last year, recording a rise of 30.7%. Consolidated total income was at ₹2,768.7 crore, up by 20.3% from ₹2,300.7 crore in the corresponding period of the previous year.
In 2022, CRISIL Ratings saw momentum in bank loan ratings. Overall revenue was up 9.1% on-year in the quarter, and 13.0% in 2022.
Also, the Ratings segment grew 9.3% in the quarter and 12.0% for the year ended December 31, 2022.
Amish Mehta, Managing Director & CEO, CRISIL, “Global economic activity held up well in the December quarter with inflation showing signs of peaking. We saw growth across our businesses. The looming slowdown in the global economy, particularly in the US and Europe, is expected to manifest next fiscal, as will the effect of the raft of rate hikes because monetary policy impacts with a lag. India’s growth cycles are quite synchronised with advanced economies now."
CRISIL's board of directors on Friday recommended a final dividend of ₹23 per share (of Re 1 face value). The company has fixed April 1st and 2nd as the book closure date which will include the dividend benefits. That being said, CRISIL shares will turn ex-dividend on March 31st.
The company plans to pay the dividend by April 24, 2023.
Earlier, the company paid three interim dividends totaling ₹25 per equity share of the face value of Re 1 each.
Overall, in 2022, the total dividend works at around ₹48 per equity share.
Mehta said, the company remains committed to making an impact through investments in technology and talent for creating new products and solutions.
On BSE, CRISIL's share price closed at ₹3,145.30 apiece up by ₹9.15 or 0.29%. The company's market cap is nearly ₹22,981 crore.
