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Crisil Q4 profit stays muted at Rs 73.34 crore

Press Trust of India  |  Mumbai 

Rating agency has reported a muted net profit at Rs 73.34 crore for the fourth quarter ended March 31, largely due to adverse movement and subdued growth in the mid-corporate and MSME segments.

had recorded a consolidated net profit of Rs 73.15 crore during the January-March 2016 period.

The agency's net profit for the fourth quarter of 2016-17 was impacted by Rs 11.89 crore due to adverse movement as against a gain of Rs 3.31 crore in the corresponding quarter of the previous year.

Crisil's consolidated total stood at Rs 402.23 crore for three months ended March 31 -- up 12 per cent from the same period year-ago, the company said in a statement.

"Growth for the quarter was driven by our research segment on account of opportunities in Risk & Analytics such as model validation, stress testing and regulatory change management," MD & CEO Ashu Suyash said.

While noting that domestic businesses saw moderate growth with corporate bond market looking up as well as better performance from the advisory and risk solutions businesses, Suyash added Crisil's profitability for Q4 remained muted "mainly on account of adverse movement and subdued growth in the mid-corporate and MSME segments".

During the fourth quarter, ratings segment witnessed modest growth despite a continued weak investment climate and soft credit growth, the company said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 20 2017. 18:48 IST