Crisil Q2 net rises 12% to Rs 65 crore

Company's consolidated sales rose 8% to Rs 329.56 crore during the quarter

Country's largest rating agency Crisil today reported an over 12 per cent rise in its consolidated net profit at Rs 64.92 crore for the second quarter ended June 2015.

The city-based company had reported a net profit of Rs 57.83 crore in the corresponding period of the previous fiscal.

Crisil said consolidated sales rose 8 per cent to Rs 329.56 crore during the quarter as against Rs 305.13 crore in the year-ago period.

Crisil follows January-December fiscal.

On standalone basis, the rating agency reported a 11.3 per cent rise in its net profit at Rs 52.2 crore.

Total income of the agency on standalone basis increased to Rs 244.78 crore during the quarter, from Rs 226.67 crore in the same period, a year-ago.

The company blamed challenging business environment, both in India as well as outside, for the tepid numbers in the April-June period.

The domestic business environment was subdued during the quarter as the capital markets remained muted with a few new debt issuers hitting the market, the firm said.

It added, the SME ratings business also witnessed headwinds on account of limited budgetary allocation of subsidy by the government.

The major growth driver was the bank-loan ratings business which showed a steady expansion, it further said.

Crisil said, its global research and analytics (GR&A) business witnessed strong revenue growth in the period, driven by a healthy performance in the risk and analytics space.