CRISIL Limited announces Q4, CY2020 results

The Board of Directors of CRISIL Ltd, at its meeting today, approved the audited financial results for the quarter and year ended December 31, 2020.

CRISIL's consolidated income from operations for the quarter ended December 31, 2020, rose 28.6% to Rs 597.2 crore, compared with Rs 464.3 crore in the corresponding quarter of 2019. Consolidated total income for the quarter ended December 31, 2020, was up 26.4% to Rs 612.2 crore, compared with Rs 484.3 crore in the corresponding quarter of the previous year. The appreciating rupee had an impact on the quarter. Profit after tax for the quarter ended December 31, 2020, was Rs 110.0 crore, compared with Rs 95.3 crore in the corresponding quarter of the previous year.

Results for the quarter includes Greenwich Associates LLC (Greenwich) acquired in Q1 2020. Excluding Greenwich, consolidated income from operations for the quarter ended December 31, 2020, was higher by 2.6% and profit after tax higher by 16.2% compared with the corresponding quarter of the previous year.

For the year ended December 31, 2020, consolidated income from operations was up 14.4% to Rs 1,981.8 crore, compared with Rs 1,731.7 crore in the corresponding period of 2019. Consolidated total income increased 14.4% to Rs 2,076.3 crore, compared with Rs 1,814.5 crore in the corresponding period of the previous year. Consolidated profit after tax was Rs 354. 7 crore, compared with Rs 344.0 crore in the corresponding period of the previous year. Consolidated income from operations for the year ended December 31, 2020, was higher by 1.4% and profit after tax up by 17.8% compared with the previous year, excluding the financials of Greenwich.

During 2020, the company paid three interim dividends totaling Rs 19 per equity share of face value of Re 1 each. The Board of Directors has recommended a final dividend of Rs 14 per share (of Re 1 face value). The total dividend for the year works out to Rs 33 per share.

Says Ashu Suyash, Managing Director & CEO, CRISIL, "Through a year like none other, CRISIL's businesses demonstrated resilience serving all its clientele with best in class insights, opinions and analytics. This coupled with our proactive pandemic response has enabled continued growth through 2020. The differentiated positioning and high quality of our offerings, global client delivery capabilities and strong client relationships will enable our businesses benefit from the expected economic recovery across the markets we operate. Our thrust on investments in technology, talent and new offerings over the years positions CRISIL well for the future."

Shares of CRISIL LTD. was last trading in BSE at Rs.1901.95 as compared to the previous close of Rs. 1920.75. The total number of shares traded during the day was 3425 in over 561 trades.

The stock hit an intraday high of Rs. 1933.85 and intraday low of 1886.2. The net turnover during the day was Rs. 6529835.

Source : Equity Bulls

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