Crisil shares will likely trade ex-dividend a day or two before the record date. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. An ex-dividend date also dictates which shareholders are eligible to receive the dividend payment.
For the March quarter, Crisil’s consolidated income from operations rose 20% to Rs 715 crore, compared with Rs 595 crore in the corresponding quarter of the previous year.
Profit after tax for the quarter ended March was up 20% to Rs 146 crore as against Rs 122 crore in the same quarter of the last year.
The company said the March quarter saw appreciation in the Indian rupee and the British pound versus the US dollar, resulting in an adverse foreign exchange impact, compared with foreign exchange gain in the year-ago period.
“We saw growth across our businesses stemming from demand for insights and analytics, amid macro and global market uncertainties. Flanks of caution are building up because of the imminent slowdown in developed economies, and the lagged effect of past repo rate hikes expected to manifest through domestic demand in the months ahead,” said Amish Mehta, MD & CEO, Crisil.
CRISIL Ratings performance was supported by higher corporate bond issuances (both, by quantum and number of issuers) during the first quarter.
The ratings services segment saw revenue growth of 16% year-on-year in the quarter. YES Securities said the company beat its estimates on revenue, EBITDA and PAT.
“The stock trades at 36x 1-yearr rolling forward. P/E re-rating would be contingent on further sustenance of revenue growth and resumption of upward margin trajectory,” it said. The brokerage has an add rating with a 12-month target price of Rs 3,550.