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.

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.

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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.

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. PTI BEN MR