CRISIL Limited: Unaudited Financial Results for the quarter ended March 31, 2012

 | April 17,2012 10:42 am IST

The Board of Directors of CRISIL Limited, at its meeting, approved the unaudited financial results for the first quarter ended March 31, 2012.

CRISILs consolidated total income for the quarter stood at Rs.

229.74 crore, as against Rs.178.77 >crore in the corresponding quarter of the previous year, an increase of 28.5 per cent. The net profit after tax was Rs.56.98 crore as against Rs. 45.99 crore in the corresponding period of the previous year, an increase of 23.9 per cent. The Board of Directors have declared payment of an interim dividend of Rs. 3 per share on shares of face value of Re. 1 each. In addition, on the occasion of Silver Jubilee year, the Board of Directors declared a one-time special dividend of Rs. 3 per share.


CRISIL Ratings maintained its leading position in the ratings market in India. Revenue growth was driven by a strong growth in Bank Loan Ratings (BLR) and rating of securitisation transactions, and by growth in Small and Medium Enterprise (SME) Ratings. The 25,000th SME rating was assigned during this quarter. CRISILs Global Analytical Centre continued to grow its services to Standard & Poors (S&P).

 

CRISILs Global Research & Analytics business, consisting of Irevna and Pipal Research, maintained its leadership despite challenging global conditions, and added several new clients during the quarter.
CRISIL Researchs growth during the quarter was affected by the slowdown in the economy, and by a volatile stock market. CRISIL Research launched a revamped and enhanced version of its near-realtime online industry research website, www.crisilresearch.com. CRISIL Research also launched Fund Analyser (FA), a tool for financial advisors that has received good feedback from the market. CRISIL Risk and Infrastructure Solutions Ltd (CRIS), a wholly-owned subsidiary of CRISIL Ltd, houses CRISILs infrastructure advisory and risk solutions businesses. During the quarter, the infrastructure advisory business expanded its international operations and won mandates in Indonesia and Ethiopia.

 

CRISIL Risk Solutions (CRS) won key mandates from a leading non-banking finance company, a large Indian public sector refinery company, and a scheduled commercial bank.


As part of its Silver Jubilee, CRISIL launched a national financial awareness initiative called Pragati Progress through Financial Awareness during the quarter. Each programme under Pragati will involve comprehensive training in local languages, covering a wide range of topics such as financial planning, cash management, and savings, and introducing concepts such as insurance and risk management to people across social and demographic categories and includes members of self-help groups, students, and small entrepreneurs. The first series of these programmes was launched in Assam.

 

Roopa Kudva
Managing Director & Chief Executive Officer

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