CRISIL Reports 3.4% Income Growth in the Quarter Ended June 30

On July 16, 2024, CRISIL Ltd announced in a stock exchange filing that the company’s board had approved the unaudited financial results for the second quarter ended June 30, 2024 (Q2 2024).

CRISIL’s consolidated income from operations increased by 3.4% to ₹797.4 crore in Q2 2024, compared to ₹771.0 crore in the same quarter last year. Consolidated total income also rose by 3.4%, reaching ₹815.4 crore in Q2 2024, up from ₹788.8 crore in the same quarter of the previous year. Profit before tax grew by 6.7% to ₹208.0 crore in Q2 2024, compared to ₹195.0 crore in Q2 2023.

For the half year ended June 30, 2024 (H1 2024), CRISIL’s consolidated income from operations rose by 3.3% to ₹1,535.0 crore, compared to ₹1,485.9 crore in the same period last year. Consolidated total income for H1 2024 increased by 3.5% to ₹1,574.2 crore, compared to ₹1,521.0 crore in H1 2023. Profit before tax was up 3.8% to ₹403.5 crore in H1 2024, compared to ₹388.6 crore in the corresponding period of the previous year.

The company stated that the Board of Directors announced an interim dividend of ₹8 per share (face value ₹1) for the current quarter of the financial year ending December 31, 2024, unchanged from the ₹8 per share declared in the same quarter last year.

Speaking on the financial performance, the Managing Director and CEO of CRISIL Ltd, Amish Mehta, said, “Global GDP growth is holding up, with the U.S. and India leading the way. India’s economy will continue to be on a robust growth trajectory. Fueled by investments in physical and digital infrastructure, both manufacturing and services are set to drive growth opportunities in India. While there is optimism, the ongoing economic uncertainty has prompted a cautious stance on discretionary spending by global clients. Our businesses showed resilience and growth, prioritising foundational capabilities through our people and digital initiatives, underscoring our commitment to long-term value creation for stakeholders.”

On July 16, 2024, the share price of CRISIL Ltd opened at ₹4,580.00, touching the day’s low at ₹4,444.20, as of 1:21 PM on the NSE.

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