CRISIL: Share of rating segment in revenue falls by 120 bps to 27.4%

Share of rating segment in total revenue falls 120 basis points year-on-year to 27.4%

A significant decline in bond issuance weighed on CRISIL’s rating business in the March 2018 quarter (Q1CY18). On a consolidated basis, its rating revenues were almost flat over the year-ago quarter and declined 8.5 per cent sequentially. Moreover, the share of the rating segment in the overall revenue fell by 120 basis points to 27.4 per cent.

For the past couple of months, yields have remained at a  higher level, though the government’s decision to truncate its debt programme in April-September, 2018, helped the bond market, to some extent, in the last few days of FY18. Since yields and bond prices