CRISIL Q3 PAT up 16.80% at Rs 105.13 crore

CRISIL reported 16.80% rise in consolidated net profit to Rs 105.13 crore in Q3 September 2019 as against Rs 90.01 crore in Q3 September 2018.

Consolidated net sales rose 2.45% to Rs 435.88 crore in Q3 September 2019 as against Rs 425.46 crore Q3 September 2018.

The company said its profitability was impacted due to adverse foreign exchange movement.

The board of directors declared a third interim dividend of Rs 7 per share (of Re 1 face value) for the financial year ended 31 December 2019.

"Our focus continues to be on growing the core business through strong emphasis on quality, and by deepening presence across client segments. This has helped generate strong growth for our ratings business in India and for coalition business globally. In addition, we are beginning to see commercial benefits of our new offerings," CRISIL's managing director & CEO, Ashu Suyash said.

The company's ratings business continued to see strong growth momentum given its steadfast focus on new client acquisition, and a surge in securitization transactions. The segment recorded a revenue growth of 16.25% to Rs 142.84 crore in Q3 September 2019 compared to Rs 122.87 crore in Q3 September 2018.

Growth for the research segment was impacted as the risk and analytics space continued to see a decline in demand for traditional regulatory assignments such as comprehensive capital analysis and review, and Dodd Frank annual stress testing. The company has increased its focus on newer offerings across model risk management, change management, and risk technology & analytics, which are seeing stronger demand. The research business of CRISIL saw revenues decline by 3.51% to Rs 258.73 crore in Q3 September 2019 from Rs 268.14 crore in Q3 September 2018.

The advisory segment expanded its international footprint through wins from World Bank. The advisory business saw revenues fall marginally to Rs 34.31 crore in Q3 September 2019 as against to Rs 34.45 crore in Q3 September 2018.

Shares of CRISIL ended 3.61% lower at Rs 1440.30 in Friday's session.

CRISIL is a global analytics company. It is India's foremost provider of ratings, data, research, analytics and solutions.

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