CRISIL slumps from record high after weak Q1 numbers

CRISIL tumbled 7.17% to Rs 2,178 at 14:31 IST on BSE after consolidated net profit fell 18.03% to Rs 56.32 crore on 0.52% decline in income from operations to Rs 307.62 crore in Q1 March 2015 over Q1 March 2014.

The Q1 result was announced during market hours today, 17 April 2015.

Meanwhile, the S&P BSE Sensex was down 108.31 points or 0.38% at 28,557.73.

On BSE, so far 11,000 shares were traded in the counter as against average daily volume of 2,824 shares in the past one quarter.

The stock hit a high of Rs 2,365 so far during the day, which is a record high for the counter. The stock hit a low of Rs 2,162.05 so far during the day. The stock had hit a 52-week low of Rs 1,206.05 on 16 April 2014.

The stock had outperformed the market over the past one month till 16 April 2015, surging 13.12% compared with Sensex's 0.8% rise. The scrip had also outperformed the market in past one quarter, jumping 18.68% as against Sensex's 1.93% rise.

The large-cap company has equity capital of Rs 7.14 crore. Face value per share is Re 1.

During Q1 March 2015, the bank loan ratings volumes showed good growth with over 900 new ratings announced, CRISIL said. Ratings revenues were mainly impacted by reduced budgetary support from Government of India for the NSIC-Performance & Credit Rating Scheme for small and medium enterprises, the company said. Although overall issuance volumes in the debt capital markets increased, fresh issuance of bonds and commercial papers from new issuers was subdued, CRISIL said. The company expects the ratings business to benefit from improvement in the investment climate, pick up in credit growth and decline in interest rates over the coming months.

CRISIL's Research's revenue growth during the quarter was largely driven by a strong performance by the Global Research & Analytics (GR&A) business, the company said.

CRISIL Risk and Infrastructure Solutions (CRIS), a wholly owned subsidiary of CRISIL, built a strong order book during the quarter, the company said. The business continues to make investments in developing robust technology platforms for its new products, CRISIL said in a statement.

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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