Crisil FY09 net up 19% at Rs 161 cr

Leading credit rating agency Crisil posted 18.9 per cent jump in consolidated profit after tax at Rs 160.78 crore, for the financial year ended December 2009 as against Rs 135.27 crore in the previous year, a company statement said here today.

Crisil registered a consolidated total income of Rs 538.99 crore for the year, up from Rs 472.56 crore in the previous year, an increase of 14.1 per cent.

Continuing operations exclude revenues and profits of the gas strategies group, which was divested in December 2008.

The directors have recommended the final dividend of Rs 25 per share. During 2009, Crisil paid three interim dividends, each of Rs 25 per share, taking the total dividend for 2009 to Rs 100 per share, as against Rs 70 in 2008.

Crisil's rating revenues grew significantly in 2009, driven by strong performance in bank loan ratings and small and medium enterprise ratings. Despite the recent recession in the global financial markets, Irevna, Crisil's off-shoring division, added several strategic and high-potential clients to its portfolio, the company release said.

Its domestic research arm, Crisil Research, launched independent equity research services and grew its traditional businesses, despite the challenging market conditions.