CRISIL’s consolidated income from operations up 15%

India Infoline News Service | Mumbai |

CRISIL Global Research and Analytics registered a healthy growth in the quarter.

The Board of Directors of CRISIL Limited, at its meeting approved the unaudited financial results for the quarter ended June 30, 2014.

CRISIL’s consolidated income from operations for the quarter stood at Rs.305.13 crore as against Rs. 265.84 crore in the corresponding quarter of the previous year, an increase of 14.8 per cent. Profit from operations before other income grew by 14.7 per cent during the quarter compared to same period last year. Consolidated net profit was Rs.57.83 crore as against Rs.60.52 crore for the corresponding quarter of previous year due to adverse foreign exchange movement.

For the six months ended June 30, 2014, consolidated income from operations was Rs.614.36 as against Rs.520.84 crore in the corresponding period of the previous year, an increase of 18 per cent. Consolidated net profit for the six months ended June 30, 2014 was Rs.126.54 crore, up 14.9 per cent as against Rs. 110.09 crore in the corresponding period of the previous year.

The Board of Directors has declared payment of a second interim dividend of Rs. 3 per share on shares of face value of Re. 1 each for the financial year ending December 31, 2014.

The overall operating environment both in India and globally was challenging with mild signs of recovery in the second quarter of 2014.

The business environment for Ratings continued to be subdued during the quarter with limited activity in the bond markets and in securitisation. Despite the environment, Ratings’ segment revenue rose 10.8 per cent over the corresponding quarter of the previous year, driven by strong growth in small and medium enterprise and bank loan ratings. The expected improvement in the policy and business environment should lead to a pick-up in fund raising activity.

CRISIL Global Research and Analytics (GR&A) registered a healthy growth in the quarter. Coalition witnessed strong growth in revenues from products launched over the last year. The quarter saw significant client additions for model validation, stress testing, and Comprehensive Capital Analysis and Review (CCAR) support to global banks. Also, the addition of buy-side clients contributed to growth during the quarter. However, the global banking industry continues to remain stressed with renewed focus on cost management and recovery of industry.

The India research business witnessed moderate growth as the slowdown in investments and profitability pressures on our clients continued in this quarter.

CRISIL Risk and Infrastructure Solutions Limited (CRIS), a wholly owned subsidiary of CRISIL Limited, maintained growth momentum by continuing to build a strong order book during the quarter. Both the infrastructure advisory and the risk solutions businesses won prestigious mandates in India and abroad.

During the quarter, CRISIL GR&A and Coalition hosted a seminar titled “Investment Banking: The Road Ahead” in London, which was attended by a number of senior investment bankers.

At 10.49 AM, shares of CRISIL rose 1.84% on BSE.


 

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