The Hindu Business Line : Crisil Q3 PAT up 62%

Ratings and financial advisory service provider, Crisil Ltd , recorded a 62 per cent growth in profit after tax at Rs 22.86 crore for the third quarter ended September 30, against Rs 14.12 crore in the corresponding quarter last year.

The growth in income follows a rise in ratings driven by a large number of hybrid and tier II capital issuances by banks and financial service companies apart from commercial papers by corporates.

Rating of capital protected mutual funds, which has been made mandatory by SEBI, also aided growth, said Mr Ravi Mohan, Managing Director and Chief Executive Officer, Crisil. "This has been perhaps one of our best ever quarters in terms of ratings," he said.

The advisory division has also contributed a big chunk to new business, Mr Mohan said. "We are advising 10-12 cities for development plans," he added. The Small and Medium Enterprises segment has rated about 400 companies this year, said Ms Roopa Kudva, Executive Director and Chief Rating Officer. "This is the first full year of the SME services. Five to six banks have announced interest rate cuts for SME units based on our ratings," she said.

On Wednesday, the shares of Crisil closed at Rs 1,770.05 on the BSE against the previous close of Rs 1,776.85, down 0.38 per cent.

Crisil and S&P have formally reached a trademark agreement, said Mr Thomas Schiller, Executive Managing Director, Asia-Pacific, S&P. "There has been rapid integration in the company and Crisil will now be positioned as an S&P company," he said.

The two will work together for offering new products in equity research, mutual funds, portfolio advisory services and benchmark indices, he added.

Consolidated figures of the group for the third quarter ended September 30: Profit after tax - Rs 22.86 crore (Rs 14.12 crore)

Total income - Rs 83.21 crore (Rs 52.03 crore)

Other income - Rs 2.28 crore (Rs 51.72 lakh)

Segment profit

Ratings services - Rs 17.23 crore (Rs 11.67 crore)

Advisory services - Rs 4.57 crore (Rs 3.5 crore)

Research and Information services - Rs 6.82 crore (Rs 5.44 crore)

For nine months ended September 30: Profit after tax - Rs 48.01 crore (Rs 27.79 crore)

Total income - Rs 208.29 crore (Rs 129.18 crore)

Other income - Rs 6.17 crore (Rs 3.28 crore)

Segment profit