CRISIL Limited CC-Mar25.pdf · 2025-05-06
My first question would be on the domestic rating revenue. So, you have mentioned that you have seen 27% growth in this quarter and a couple of quarters back also you did close to 30% growth. And if I look at these numbers, these are probably the best you have had in the last 12-13 years. So, what exactly is driving this kind of growth? You did mention that you benefited in both initial rating and surveillance, but any color on what exactly is driving this kind of significant outperformance versus the rest of the industry and also versus your recent history, that would be very helpful. So , I will ask my second question after you address the first one.
Got it. But at least, I know maybe looking at one quarter's performance may not be the right way to look at your business. But at least at the industry level, the bond issuance growth was just 4%. So, while I do understand that the preference for your supe rior quality ratings and all stays. But any sense on how the revenue growth was so strong despite the fact that the macro economics were kind of just okay-ish?