Crisil Reports Q3 Growth, Announces Business Restructure

Crisil reported a 13% increase in its consolidated net profit to Rs 171.55 crore for the September quarter. The company approved a third interim dividend and announced the transfer of Peter Lee Associates' business to Crisil Australia. Shares rose by 2.10% after these announcements.

Crisil, a leading rating agency, posted a 13% increase in its consolidated net profit, reaching Rs 171.55 crore for the September quarter compared to Rs 152 crore in the previous fiscal.

The company's total revenue for the third quarter grew to Rs 833 crore from Rs 771.84 crore during the same period last year. The Board of Directors approved a third interim dividend of Rs 15 per equity share for the financial year ending December 31, 2024.

In a strategic move, Crisil announced the transfer of Peter Lee Associates Pty Ltd's business to its Australian arm, Crisil Irevna Australia Pty Ltd. This will streamline operations in Australia. Managing Director and CEO Amish Mehta highlighted the company's investment in new-age technologies, including a Gen AI Credit Assessment solution.

(With inputs from agencies.)