The largest rating agency Crisil Ltd on Friday (February 16) reported a 33% year-on-year (YoY) increase in net profit at ₹210.1 crore for the fourth quarter that ended December 31, 2023.
In the corresponding quarter last year, Crisil posted a net profit of ₹158 crore, the company said in a regulatory filing. The company's revenue from operations increased 11.6% to ₹917.7 crore against ₹822.3 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA rose 24.3% to ₹268.9 crore in the fourth quarter of this fiscal over ₹216.3 crore in the corresponding period in the previous fiscal.
The EBITDA margin stood at 29.3% in the reporting quarter against 26.3% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Profit before tax for the quarter ended December 31, 2023, rose 34.7% to ₹278.8 crore, compared with ₹207 crore in the corresponding quarter of the previous year. Profit before tax for the quarter ended December 31, 2023 includes a one-off gain of ₹29.4 crore due to sharp devaluation of the Argentinian peso in December.
Crisil's consolidated income from operations for the year ended December 31, 2023, rose 13.4% to ₹3,139.5 crore, compared with ₹2,768.7 crore in the corresponding period of the previous year. Consolidated total income for the year ended December 31, 2023, was up 11.6% to ₹3,246.4 crore, compared with ₹2,907.8 crore in the corresponding period of the previous year.
For the year ended December 31, 2023, the company paid three interim dividends totalling ₹26 per equity share of face value of ₹1 each. The board of directors has recommended a final dividend of ₹28 per share (of ₹1 face value). The total dividend for the year works out to ₹54 per share.
In 2022, a rise in the US dollar against the rupee and the British pound had increased profitability, including ₹ 30.1 crore from revaluation of a subsidiary loan, the company added.
The ratings segment grew 18.3% in the last quarter and 16.4% for the year ended December 31, 2023. The research, analytics and solutions segment grew 9.8% in the quarter and 12.4% in year ended December 31, 2023.
The results came after the close of the market hours. Shares of Crisil Ltd ended at ₹4,623.00, up by ₹28.30, or 0.62%, on the BSE.
