Crisil net up 46% at Rs 14.36 cr

CORPORATE SCORECARD

Crisl Ltd, a subsidiary of global ratings agency Standard & Poor's, today reported 46 per cent rise in its net profit in the third quarter ended September 30, 2006 on increased perpetual and subordinated bond issuances by banks.

The rating agency, which will from now on be known as an S&P company following the signing of an agreement, said its net profit in the July-September quarter increased to Rs 14.36 crore from Rs 9.83 crore a year earlier. Total income during the quarter rose 35 per cent to Rs 44.33 crore from Rs 32.76 crore a year earlier.

Crisil's consolidated net profit was up 62 per cent to Rs 22.86 crore in the third quarter from rs 14.12 crore a year earlier and total income increased by 60 per cent to Rs 83.21 crore from Rs 52.04 crore a year earlier.

The consolidated accounts include Crisil, Crisil Research and Information Services, Crisil MarketWisre, Global Data Services of India, Crisil Properties, Gas Strategies Group in the Uk and its subsidiaries Irevna Research Services and Irevna Ltd (UK).

R Ravimohan, managing director & CEO, said growth in business was driven by continued borrowings by banks and increased demand for short-term ratings from corporates.