InvestorQ : How were the quarterly numbers for CRISIL for the Mar-21 quarter?
manisha Kolvenkar made post

How were the quarterly numbers for CRISIL for the Mar-21 quarter?

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Crowny Pinto answered.
3 weeks ago
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For the Mar-22 quarter (first quarter for CRISIL as it follows calendar year), CRISIL Ltd reported 20.14% higher sales revenues at Rs.594.94 crore. However, geopolitical risk and impact on bond markets led to -15.73% lower revenues sequentially. On a sequential basis, the corporate bond issues fell sharply, which led to a sharp fall in the research services revenue. However, the rating services revenues was not impacted on sequential basis. The revenues are likely to improve to normal levels with bond activity back in Jun-22 quarter.

CRISIL Ltd

Rs in Crore

Mar-22

Mar-21

YOY

Dec-21

QOQ

Total Income (Rs cr)

₹ 594.94

₹ 495.20

20.14%

₹ 706.02

-15.73%

Net Profit (Rs cr)

₹ 121.62

₹ 83.52

45.62%

₹ 168.63

-27.88%

Diluted EPS (Rs)

₹ 16.66

₹ 11.49

₹ 23.11

Net Margins

20.44%

16.87%

23.88%

   

Profit after tax (PAT) for the Mar-22 quarter was up 45.6% to Rs.121.62 crore but the profits were down -27.9% on sequential basis. Despite flat rating revenues, the rating operating profits were up by 10% on yoy basis. The big boost to yoy profits came from the 80% growth in operating profits on research services. That eventually helped yoy profit growth.

Sequential profits were under pressure due to the impact of global tightness in bond markets resulting in Indian bond market action also becoming tepid. Net profit margins stood at 20.44% in Mar-22 quarter compared to 16.87% in Mar-21. However, the net profit margins were lower by 344 basis points on a sequential basis, compared to Dec-21 quarter.

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