Crisil Q1 Net Rises 11.7% To Rs 3.15 Crore

The net profit of Credit Rating and Information Services of India Ltd (Crisil) for the first quarter ended on June 30, 2002, increased by 11.7 per cent to Rs 3.15 crore compared with Rs 2.82 crore in the corresponding period the previous financial year.

The rating agency's income from operations for the quarter increased by 12.6 per cent to Rs 14.64 crore from Rs 13 crore the previous year.

Total income grew by 12 per cent to Rs 15.08 crore compared with Rs 13.41 crore in the corresponding previous period.

Total expenditure darted up 17 per cent to Rs 8.46 crore for the quarter ended June 30, 2002, from Rs 7.21 crore during the corresponding period of the previous year.

According to Crisil, the banking and financial sector advisory unit is working on strategic assignments for a foreign bank and a central bank.

Cris-Risk & Information Solutions Company, the wholly owned subsidiary of Crisil which was launched a news service for the mutual funds industry, has achieved a break-even in this quarter. The majority of the profit for the rating agency was through its rating services.

Rating services reported a segmental profit of Rs 6.04 crore in the first quarter compared with Rs 5.67 crore previously; while advisory services netted Rs 86.36 lakh, and research and information services netted Rs 1.61 lakh.