Financial Daily from THE HINDU group of publications
Tuesday, Oct 21, 2003
Financial Daily from THE HINDU group of publications Tuesday, Oct 21, 2003 |
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Corporate Results
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Credit Rating Crisil Q2 net profit up 8 pc at Rs 4.56 cr Our Bureau
Mumbai , Oct. 20 THE Credit Rating Information Services of India Ltd (Crisil) has posted a net profit of Rs 4.56 crore for the second quarter ended September 30, 2003, up 8.06 per cent on the Rs 4.22 crore posted in the quarter ended September 30, 2002. The total income recorded in the period under review grew to Rs 18.21 crore (Rs 17.46 crore). For the half year ended September 30, 2003, the net profit stood at Rs 8.21 crore (Rs 7.37 crore) on a total income of Rs 34.10 crore (Rs 32.54 crore). According to the company, its rating business reported satisfactory operations, in spite of the sluggishness in capital investment. In line with a strengthening rupee, the company showed a preference for foreign currency borrowings. It also sought to improve its franchise with issuers, investors and regulators. The agency is also working with Standard & Poor's (S&P) on a number of assignments internationally. CRISIL Infrastructure Advisory worked with the Gujarat Government on the global investors meet, Vibrant Gujarat. It is also conducting a feasibility study for setting up a special export zone, a gas monetisation strategy for a company holding gas reserves and formulation of an Infrastructure Development and Procurement Act for Goa. Its risk consulting division, Crisil Investment and Risk Management Services (CIRM), has won a credit and operational risk consulting project and is implementing risk models from banks and financial institutions. On a consolidated basis, the net profit for the quarter ended September 30, 2003, stood at Rs 5.75 crore (Rs 4.05 crore) on a total income of Rs 19.92 crore (Rs 18.49 crore). These numbers include the accounts of Crisil, Crisil Research and Information Services, Cris - Risk & Information Solutions Company Ltd, Global Data Services of India and Crisil Properties Ltd.
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