The Board of Directors at rating agency Crisil Ltd declared an interim dividend of Rs 8 per share for the financial year ending December 2023, it informed exchanges through a stock filing.
The decision was taken by its Board at its meeting held on Tuesday, where it also approved the unaudited financial results for the second quarter ended June 30. A dividend is a reward that companies often provide to their shareholders, though not mandatory, from a portion of their earnings.
Crisil’s consolidated income from operations rose 15.3 per cent to Rs 771.0 crore in Q2 2023, compared with Rs 668.5 crore in the corresponding quarter of the previous year.
Consolidated total income was up 12.1 per cent at Rs 788.8 crore in Q2 2023, compared with Rs 703.8 crore in the corresponding quarter of the previous year.
The profit after tax (PAT) increased 10.0 per cent to Rs 150.6 crore in Q2 2023, compared with Rs 136.9 crore reported in the corresponding quarter of the previous year.
“Economic activity globally and in India was resilient during Q2 2023. There are incipient signs of slowdown in banking and financial services spending globally that, in turn, is impacting discretionary spends,” said Amish Mehta, Managing Director and CEO, Crisil.
“We remain committed to growing sustainably and continue investing in technology, people and new capabilities,” Mehta added.
While domestic demand has been resilient so far, the rating agency noted it could moderate later this fiscal as the full impact of rate hikes (by the central bank) in the recent past manifests and the pent-up demand in contact-intensive services wanes.