Crisil Q1 net at Rs 11 cr

CORPORATE SCORECARD

Crisil's net profit stood at Rs 11.33 crore for the first quarter of 2007-08, while profit was at Rs 8.07 crore a year earlier.

The results are not comparable as the previous year's figures included profits from the advisory services business of Crisil, which was transferred to a separate subsidiary at the beginning of the quarter.

On a stand-alone basis, the total income of the Standard & Poor (S&P) Group company totalled Rs 42.61 crore in the June quarter, while it stood at Rs 36.05 crore in the previous financial year.

Crisil's advisory services business was transferred to Crisil Risk and Infrastructure Solutions, a wholly-owned subsidiary of Crisil, with effect from April 1, 2007. The growth in bottom line was driven by an increased demand for ratings across sectors.

Profits from ratings services rose 30.57 per cent to Rs 12.30 crore from Rs 9.42 crore a year earlier. The small and medium enterprises (SMEs) rating activity has picked up and the company rated over 1000 SMEs in the quarter.

Profit from the research and information services business doubled to Rs 2.16 crore from Rs 1.10 crore a year earlier.

The consolidated net profit for the quarter-ended June 2007 was flat at Rs 16.11 crore compared with Rs 16.01 crore a year earlier as the group's expenses rose 59 per cent to Rs 72.3 crore from Rs 45.38 crore.

Total income, on a consolidated basis, increased by 42 per cent to Rs 96.91 crore from Rs 68.10 crore a year earlier.

Profit from the advisory services business fell from Rs 4.53 crore to Rs 2.23 crore.

Roopa Kudwa new MD and CEO of Crisil

Roopa Kudwa, ex-Crisil's executive director and chief rating officer, has taken over as managing director (MD) and chief executive officer (CEO) of Crisil.

This follows the appointment of R Ravimohan, MD & CEO of Crisil, as the MD and Region Head of Standard &Poor's in South Asia.

Ravimohan will lead S&P's businesses and operations in South Asia, which includes the markets of India, Pakistan, Sri Lanka, Maldives, Mauritius and The Seychelles.