CRISIL shares jump 8% on Q3 profit surge, board recommends final dividend of Rs 28

CRISIL shares surged over 8 percent in the morning trade on February 19 after the rating agency reported a 33 percent on-year increase in consolidated net profit in the December quarter.

The net profit came in at Rs 210.1 crore, driven by healthy operating numbers. Revenue jumped 11.6 percent year-on-year to Rs 917.7 crore.

At 11.30 am, CRISIL was quoting at Rs 4,980.35 on the National Stock Exchange (NSE), 8.05 percent higher from the previous session’s closing price.

The board of directors recommended a final dividend of Rs 28 for the financial year ended 2023 for equity shares with a face value of Re 1 each.

The dividend pay-out is subject to the approval of the shareholders at the ensuing annual general meeting. This brings the total dividend for 2023 to Rs 54 against Rs 48 in the previous year.

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“We saw growth across our businesses despite macro uncertainties and cost pressure on global clients. In 2024, the expected soft landing of the global economy could have a bearing on discretionary spends by global clients,” Amish Mehta, MD and CEO, said.

Over the past six months, CRISIL gained over 24 percent compared to a 12 percent rise in the frontline Nifty.

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