Mumbai, July 22: Rating agency Crisil has reported a 15.9% rise in the net profit at Rs 3.7 crore for the first quarter ended June 30, ‘03 as compared to Rs 3.2 crore in the corresponding period last year. Total income was up at Rs 15.9 crore during the period under review as against Rs 15.1 crore in the corresponding quarter of previous fiscal, a Crisil release said. The company provided Rs 1.4 crore towards depreciation and Rs 2.1 crore towards taxation, the release said.

Crisil said several important initiatives were taken to improve the frachise with issuers, investors and regulators.
The structured finance ratings business made good progress while its relationship with Standard & Poor’s expanded significantly and the agency continues to work on a number of joint projects with it, the release added.
Bureau Report