Crisil Share Price Surge Over 8% Following Strong Q3 2024 Results

Crisil reported a 13% year-on-year increase in consolidated net profit, reaching ₹171.55 crore for the third quarter, compared to ₹152 crore in the same period the previous year. The company’s revenue also showed a healthy growth of 8%, rising to ₹833 crore from ₹771.84 crore year-on-year.

The strong financial performance was supported by a 16.7% rise in EBITDA, which reached ₹223.8 crore. This resulted in an improved EBITDA margin of 27.6%, up from 26.1% in the corresponding quarter of the previous year. Total income also increased by 5%, amounting to ₹2,407.4 crore for the first nine months of the fiscal year.

Adding to the positive momentum, Crisil’s Board of Directors declared a third interim dividend of ₹15 per share for FY24. The dividend, based on a face value of ₹1 per share, is set to be disbursed on November 13, 2024.

The company highlighted some external challenges, including unfavourable foreign exchange impacts, but remains optimistic due to strong growth in key markets. With continued investment in new technologies, such as artificial intelligence (AI) for credit assessments, Crisil aims to deliver long-term value to its stakeholders.

Crisil Share Price Performance

On October 17, 2024, Crisil share price opened at ₹5,051.45, but by 10:08 AM, it had dropped to ₹4,892.80, up 2.17% from its previous close. The stock saw a rise following strong Q3 results, where the company reported a 13% increase in net profit and higher revenues, which fueled positive investor sentiment.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.