CRISIL hits record high after strong Q1 results

CRISIL rose 1.72% to Rs 1,234 at 15:01 IST on BSE after consolidated net profit surged 38.6% to Rs 68.71 crore on 21.4% growth in income from operations to Rs 308.98 crore in Q1 March 2014 over Q1 March 2013.

The Q1 result was announced during trading hours today, 17 April 2014.

Meanwhile, the S&P BSE Sensex was up 325.55 points or 1.46% at 22,602.78.

On BSE, so far 5,614 shares were traded in the counter as against average daily volume 2,977 shares in the past one quarter.

The stock was volatile. The stock surged as much as 5.18% at the day's high of Rs 1,276 so far during the day, which is a record high for the counter. The stock rose 0.56% at the day's low of Rs 1,220 so far during the day. The stock had hit a 52-week low of Rs 889.05 on 23 April 2013.

The stock had outperformed the market over the past one month till 16 April 2014, advancing 3.89% compared with the Sensex's 2.14% rise. The scrip had also outperformed the market in past one quarter, surging 8.68% as against Sensex's 4.76% rise.

The mid-cap company has equity capital of Rs 7.07 crore. Face value per share is Re 1.

During the quarter, revenue from Ratings grew strongly by 16% over the corresponding quarter of 2013. Bank Loan Ratings and SME Ratings were the drivers of the ratings business. However, there was limited activity in the bond and securitisation markets, CRISIL said in a statement.

Growth at CRISIL Research was impacted by not-so-favourable macro factors in India, CRISIL said. During the quarter, CRISIL Research focused on enhancing existing offerings, launching new products and increasing client engagement, the company said in a statement.

CRISIL said that the global economy continues to be sluggish; the much-anticipated growth in the revenue and profitability of investment banks did not come about. Despite this, the CRISIL Global Research & Analytics (GR&A) business added marquee clients in financial research, analytics and model validation, the company said. Coalition delivered a strong performance by growing its key client accounts and expanding product offerings, CRISIL said in a statement.

CRISIL Risk and Infrastructure Solutions (CRIS), a wholly owned subsidiary of CRISIL, built a strong order book during the quarter, the company said. Both the infrastructure advisory and risk solutions businesses won their largest-ever mandates, it added. However, the uncertain investment climate and delayed decision-making continue to weigh on the businesses, CRISIL said in a statement.

CRISIL's board of directors at its meeting held on Thursday, 17 April 2014, declared interim dividend of Rs 3 per share for the year ending 31 December 2014.

CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services. CRISIL's majority shareholder is Standard and Poor's (S&P). Standard & Poor's, a part of McGraw Hill Financial, is the world's foremost provider of credit ratings.

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