CRISIL Reports A Drop In Quarterly Net Profits

Rating agency CRISIL's saw its consolidated income from operations for the quarter ended March 31, 2021, rose 15.8% to Rs 495.2 crore, compared with Rs 427.8 crore in the corresponding quarter of previous year.

Consolidated total income for the quarter ended March 31, 2021, was up 11.0% to Rs 508.7 crore, compared with Rs 458.2 crore in the corresponding quarter of the previous year.

Profit after tax for the quarter ended March 31, 2021, was Rs 83.5 crore, compared with Rs 88.1 crore in the corresponding quarter of the previous year. Foreign exchange loss for the quarter ended March 31, 2021, was Rs 4.7 crore compared with a gain of Rs 16.6 crore in the corresponding quarter of the previous year.

The results for the quarter include full quarter financials of Greenwich Associates LLC, acquired in February 2020, as against one month's numbers considered in the same quarter of the previous year.

The Board of Directors declared an interim dividend of Rs 7 per share (of Re 1 face value) in the current quarter for the financial year ended December 31, 2021, compared with Rs 6 per share interim dividend declared during the quarter ended March 31, 2020.

Says Ashu Suyash, Managing Director & CEO, CRISIL, "During the quarter, we saw good business momentum across Ratings, Research and Analytics. Buoyant capital markets and new client acquisitions aided growth. Ongoing demand for traded and credit-risk offerings also helped. We continue to make investments in data and technology capabilities, and in ensuring that our people are able to navigate well through the pandemic and serve clients."