CRISIL announces 2022 final dividend for its investors

Rating and research firm CRISIL has declared the final dividend of Rs 23 per share for its investors for the year that ended in December 2022.

A dividend is a reward that companies often provide to their shareholders, though not mandatory, from a portion of their earnings.

Earlier, the company paid three interim dividends totalling Rs 25 per share.

"The Board of Directors has recommended a final dividend of Rs 23 per share (of Re 1 face value). The total dividend for the year works out to Rs 48 per share," it said in a regulatory filing to stock exchanges.

Meanwhile, the Board of Directors of CRISIL, at its meeting held Friday, approved the financial results for the quarter and year ended December 31, 2022.

Profit after tax for the quarter that ended December 31, 2022, was up 17.5 per cent at Rs158.0 crore, compared with Rs 134.5 crore in the corresponding quarter of the previous year.

Further, its consolidated income from operations for the quarter ended December 31, 2022, rose 16.5 per cent to Rs 822.3 crore, compared with Rs 706.0 crore in the corresponding quarter of the previous year.

"Global economic activity held up well in the December quarter with inflation showing signs of peaking. We saw growth across our businesses. The looming slowdown in the global economy, particularly in the US and Europe, is expected to manifest next fiscal, as will the effect of the raft of rate hikes because monetary policy impacts with a lag," said Amish Mehta, Managing Director & CEO, CRISIL.

"India's growth cycles are quite synchronized with advanced economies now. We remain committed to making an impact through investments in technology and talent for creating new products and solutions," Mehta added.

CRISIL's consolidated income from operations for the year ended December 31, 2022, rose 20.3 per cent to Rs 2,768.7 crore, compared with Rs 2,300.7 crore in the corresponding period of the previous year.

( With inputs from ANI )

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