Crisil's Q1 consolidated net profit up 40%

Total income during quarter under review rose by 16.45% at Rs 259.23 crore, as compared to Rs 222.61 crore in previous year

Leading ratings agency Crisil on Tuesday reported a rise of 40% in its consolidated net profit for the first quarter (Q1) ended March 31, 2016.

The global analytical company uses the January-December calendar year for accounting purposes.

According to the company, its net profit soared to Rs 78.60 crore, compared with Rs 56.32 crore in the corresponding quarter of the previous year.

The company's consolidated total income from operations increased by 17% to Rs 358.67 crore from Rs 307.62 crore in the like quarter of last year.

On standalone basis, the company's net profit ascended by 44% to Rs 65.64 crore, from Rs 45.61 earned during the like period of last year.

The total income during the quarter under review rose by 16.45% at Rs 259.23 crore, as compared to Rs 222.61 crore in the corresponding period of the previous year.

Further, the company's board declared an interim dividend of Rs 5 per share of face value of Re 1 each for the financial year ending December 31, 2016.

"The strong financial performance is reflective of the diversity of CRISIL's portfolio of businesses," said Ashu Suyash, managing director and chief executive of Crisil.

"The quarter saw a strong growth in risk and analytics and financial research businesses under our global research and analytics vertical, while the performance of India focused businesses remained subdued because of weak investment demand and credit growth."