CRISIL Ltd (NSE:CRISIL) is a leading credit rating agency in India. The company provides ratings, research, and risk and policy advisory services to various organizations. CRISIL is a subsidiary of S&P Global Inc, a global leader in providing credit ratings, benchmarks and analytics in the financial markets.
CRISIL Ltd. announced its financial results for the quarter and fiscal year ended December 31, 2022. The company’s consolidated income from operations increased by 16.5% YoY to ₹822.3 crore, and consolidated total income rose by 16.8% to ₹840.6 crore for the quarter. The profit after tax for the quarter also increased by 17.5% to ₹158.0 crore. For the fiscal year ended December 31, 2022, CRISIL’s consolidated income from operations climbed by 20.3% to ₹2,768.7 crore, and consolidated total income increased by 22.1% to ₹2,907.8 crore. The profit after tax for the year climbed by 30.7% to ₹564.4 crore. The research, analytics, and solutions segment witnessed a growth of 18.6% in the quarter and 23.2% in the fiscal year, while the rating segment gained 9.3% in the quarter and 12.0% for the fiscal year.
Amish Mehta, Managing Director & CEO, CRISIL, “Global economic activity held up well in the December quarter with inflation showing signs of peaking. We saw growth across our businesses. The looming slowdown in the global economy, particularly in the US and Europe, is expected to manifest next fiscal, as will the effect of the raft of rate hikes because monetary policy impacts with a lag. India’s growth cycles are quite synchronised with advanced economies now. We remain committed to making an impact through investments in technology and talent for creating new products and solutions.”