CRISIL stock jumps 7% on strong Q2 results; net profit, revenue jump YoY

CRISIL declared an interim dividend of Rs 15 per share (of Rs 1 face value) for the quarter, compared with Rs 11 per share declared during the corresponding quarter of the previous year.

Shares of CRISIL Ltd jumped over 7 percent in early trade on October 17 after the ratings firm reported a 12.9 percent on-year (YoY) increase in net profit at Rs 171.6 crore for the quarter ended September 30, 2024. The company's revenue from operations rose 10.3 percent YoY to Rs 811.8 crore.

At the operating level, CRISIL's earnings before interest, tax, depreciation, and amortisation (EBITDA) jumped 16.7 percent YoY to Rs 223.8 in the quarter under review, while EBITDA margin stood at 27.6 percent in the reporting quarter as compared to 26.1 percent in the corresponding period in the previous fiscal.

During the quarter under review, the impact of foreign exchange movement was unfavourable compared to the same quarter last year.

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The company's board of directors declared an interim dividend of Rs 15 per share (of Re 1 face value) for FY25, compared with Rs 11 per share declared during the corresponding quarter of the previous year.

"Global growth patterns are diverging, with the US slowing, the Eurozone recovering, and India displaying robust GDP growth. Geopolitical uncertainties remain a risk," said Amish Mehta, Managing Director and CEO of CRISIL.

At 9:56 am, shares of CRISL shares were trading more than 4 percent higher at Rs 4,985.30 on the National Stock Exchange (NSE). The stock has risen around 17 percent so far this year, outperforming Nifty's returns of 14.8 percent.

In the last one year, the counter has risen around 29 percent compared to Nifty's gain of 26 percent during this period.

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