Crisil Q1 2014 net at Rs 60.52 crores as bond issuances rise

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Crisil Q1 2014 net at Rs 60.52 crores as bond issuances rise
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India's top rating agency CRISIL has reported a consolidated income from operations of Rs.265.84 crore for the quarter ended June 30, 2013, up by 22.8 per cent from Rs.216.55 crore for the corresponding quarter of the previous year.

The consolidated profit after tax for the quarter increased by 38.5 per cent to Rs.60.52 crore, from Rs. 43.70 crores for the corresponding quarter of the previous year.

For six months ended June 30, 2013, the consolidated income from operations was Rs.520.84 crore, up by 16.7 per cent from Rs.446.29 crore for the corresponding period of the previous year. The consolidated net profit after tax for the half year ended June 30, 2013 was Rs.110.09 crore, up by 9.3 per cent from Rs100.68 crore for the corresponding period of the previous year.

The Board of Directors has declared the payment of a second interim dividend of Rs.3 per share on face value of Re.1 per equity share for the financial year ending December 31, 2013.

"The growth in ratings revenue was driven by an increase in bond issuances during the year," the company has stated in a release.

"Several new innovative instruments including India's first inflation-indexed debenture issue and the first Tier II capital issuance under the Basel-III regulations (both rated by CRISIL) were launched during the quarter. CRISIL's SME Ratings business reported strong growth, backed by greater acceptance by the banking system and an increasing footprint across the country. CRISIL's Global Analytical Centre (GAC) continued to see good demand from analytical teams of Standard & Poor's, " the firm has stated in its release.

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Read more about: crisil, s ampp
Story first published: Saturday, July 20, 2013, 11:29 [IST]
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