Latest News | Crisil Reports 20pc Rise in Net Profit in Jan-Mar Qtr

Mumbai, Apr 18 (PTI) Rating agency Crisil on Tuesday reported a nearly 20 per cent on-year rise in net profit to Rs 145.8 crore in the first quarter ending March 2023.

The company said consolidated income for the quarter rose by 19.1 per cent to Rs 732.2 crore compared to the year-ago period.

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Amish Mehta, the managing director & chief executive said the company saw growth across businesses stemming from demand for insights and analytics, amid macro and global market uncertainties.

However, he warned of cloudy days saying flanks of caution are building up because of the imminent slowdown in developed economies, and the lagged effect of the past repo rate hikes is expected to manifest through domestic demand in the months ahead.

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Corporate bond issuances grew 48 per cent by quantum in the first quarter on-year, and 8 per cent by the number of issuers. Bank credit continues to grow well, leading to healthy uptick in bank loan ratings, all this will have the economy clipping at 6 percent this fiscal.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)