Crisil Q3 Profit Rises 13% to Rs 171.55 Cr
Oct 16, 2024 21:00
Crisil's net profit jumped 13% to Rs 171.55 crore in Q3 FY24, driven by strong revenue growth. The company also announced a third interim dividend and the sale of its Australian subsidiary.
New Delhi, Oct 16 (PTI) Rating agency Crisil on Wednesday reported a 13 per cent growth in its consolidated net profit to Rs 171.55 crore for the September quarter.
The company had a net profit of Rs 152 crore in the July-September period of the last fiscal.
Its total income rose to Rs 833 crore in the third quarter ended September from Rs 771.84 crore in the year-ago period.
In a regulatory filing, Crisil Ltd said the Board of Directors has approved the payment of a third interim dividend of Rs 15 per equity share of face value of Re 1 each for the financial year ending December 31, 2024.
The Board of Directors of Peter Lee Associates Pty Ltd (PLA) and Crisil Irevna Australia Pty Ltd (Crisil Australia), the two wholly-owned subsidiaries of Crisil Ltd based in Australia, have approved the sale of the business of PLA to CRISIL Australia through a business transfer agreement.
This will be followed by a deregistration of PLA. This will mean the operation of only one subsidiary in Australia, Crisil Ltd said in a BSE filing.
Crisil Australia will pay a cash consideration equivalent to the net asset value of the business of PLA on the completion date of the transfer.
Crisil Ltd Managing Director and CEO Amish Mehta said, "We are investing in new-age technologies, including Gen Al, and have successfully deployed a Gen Al Credit Assessment solution for our global clients".
Shares of Crisil closed at Rs 4,789.85 up 2.10 per cent over the previous close on BSE.
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