Ratings major Crisil today posted a marginal drop in its net in the quarter ended June 30 at Rs 43.70 crore. The city headquartered company, majority owned by Standard&Poor's, had reported a post tax profit of Rs 44.44 crore in the corresponding April-June period last year, the company said in a statement issued here.
The company attributed the fall in net to a one time gain arising out of sale of an investment in the year-ago period. If the one-time gain is excluded, the net profit has grown by 3.60 per cent, it said.
Crisil's consolidated total income for the quarter grew 6.20 per cent to Rs 216.55 crore against Rs 203.89 crore in the previous year. Among the segments, the highest revenue giving research wing witnessed a sequential drop in the revenue to Rs 113.28 crore from the March quarter's Rs 115.30 crore due to poor economic conditions.
"Crisil Research's growth during the quarter was impacted by the slowdown in the economy and volatility in the stock markets," it said. The company scrip was trading 3.34 per cent down at Rs 995 a piece on the BSE at 1345 hours, against the 0.64 per cent gain in the 30-share indicative BSE Sensex. Crisil's board has declared a second interim dividend of Rs 3 per share, it added.