Crisil Q4 Net up 7.5% at Rs 60 crore
Mumbai: Rating agency Crisil on Friday posted a 7.5 percent increase in the net profit for the fourth quarter ended December at Rs 59.99 crore against Rs 55.81 crore in the corresponding quarter previous year.
The revenue stood at Rs 262.04 crore, up 19.8 percent from Rs 218.69 crore in the year-ago period, said a company statement.
Crisil registered a consolidated income from operations at Rs 979.31 crore for the year 2012, up from Rs 809.64 crore in the previous year, an increase of 21 percent.
Its consolidated profit after tax for the year was Rs 220.40 crore, an increase of 6.8 percent from Rs 206.42 crore in the previous year.
Crisil maintained its leading position in the ratings market in India, in a year in which bond issuances remained muted because of high interest rates and tight liquidity, the firm's Managing Director and Chief Executive Officer Roopa Kudva said.
"The major contributors to our revenue growth were Bank Loan Ratings (BLRs) and Small and Medium Enterprises (SME) ratings. We announced 3,600 new BLRs and 10,000 SME ratings during the year," she said.
Crisil has assigned more than 11,000 BLRs and 46,000 SME ratings/assessments so far. The agency's Global Analytical Centre (GAC) maintained steady growth in its services to Standard & Poor's (S&P), the release said.
During the year, Crisil launched a national financial awareness initiative called `Pragati ? Progress through Financial Awareness'.
"Pragati will provide comprehensive training in local languages to a wide base of people across social and demographic categories, covering topics such as financial planning, cash management, and savings, and introducing the concepts of insurance and risk management," Kudva said.