CRISIL drops beyond 5 per cent despite posting strong Q1FY22 results
Despite the pandemic-driven challenges, the company was able to enable strong growth due to a well-diversified business mix, and relentless focus on analytical excellence and customer experience.
On Tuesday, CRISIL Ltd, an Indian analytical company's board of directors approved the unaudited financial results for the second quarter ended June 30, 2021, i.e. for Q1FY22.
For the initial quarter of FY22, the company's consolidated income from operations improved by 12 per cent, reaching Rs 528.5 crore as compared to Rs 471.8 crore reported in Q1FY21. Meanwhile, the consolidated total income for Q1FY22 was up by 13.7 per cent at Rs 550.5 crore, compared to Rs 484.0 crore in the corresponding quarter of the previous year. PAT for the initial quarter of FY22, which ended on June 30, 2021, exhibited a robust growth of 51.9 per cent standing at Rs 100.8 crore in comparison with Rs 66.3 crore in the corresponding quarter of the previous year.
The six-month performance of the company i.e. for the half-year ended June 30, 2021, also depicted a growth trend as on a YoY basis, the consolidated income from operations grew by 13.8 per cent, consolidated total income gave a rise of 12.4 per cent while profit after tax improved by 19.3 per cent. The six-monthly financial result of the company includes the financials of Greenwich Associates LLC, which was acquired on February 26, 2020. The board of directors declared an interim dividend of Rs 8 per share (of Re 1 face value) in the current quarter for the financial year ended December 31, 2021, compared with Rs 6 per share interim dividend declared during the quarter ended June 30, 2020.
Despite the pandemic-driven challenges, the company was able to enable strong growth due to a well-diversified business mix, and relentless focus on analytical excellence and customer experience. The company's new offerings across credit & non-financial risk are helping it to tap the emerging opportunities from clients whereas the new wins and renewals are helping in the growth of core areas of the business.
The stock of the company has multiplied investors' wealth by giving 53.5 per cent returns on a YTD basis and 71.86 per cent returns in the last one year.
CRISIL is an Indian analytical company providing ratings, research, and risk & policy advisory services and is a subsidiary of the American company, S&P Global.
Today, the stock market is closed in observance of Eid al-Adha. However, on Tuesday, the share of the company ended at Rs 2,953.65, down by 5.13 per cent on BSE.