The Hindu Business Line : Crisil Q4 net up 74%

Total income for the quarter amounted to Rs 42.49 crore (Rs 29.15 crore), rising 45.7 per cent. It posted a 38 per cent rise in net profit at Rs 37.38 crore against Rs 27.11 crore for the financial year ended December 31, 2006, owing to a sharp rise in total and other income.

Total income rose by 34 per cent to Rs 156.85 crore (Rs 117.26 crore).

Other income

Crisil's other income jumped significantly to Rs 10.10 crore. This includes the dividend of Rs 4.50 crore it received from Irevna Research Services Ltd (subsidiary company), Rs 6.37 lakh received from India Index Services & Products Ltd (joint venture) and interest of Rs 3.91 lakh received from Crisil Marketwire Ltd.

According to a press release, the collaboration with Standard & Poor's (S&P) is significantly expanding Crisil's business opportunities in India and abroad.

Crisil has realigned its brand to emphasise its new global character - Crisil will now be known as "Crisil, a Standard & Poor's company".

Ratings growth

Crisil's ratings growth was mainly driven by the financial sector's need for funding strong credit and retail financing growth, funds services and the new initiatives - SME ratings and executive training, said the press release.

The consolidated total income for the year was Rs 294.03 crore in the fiscal ended December 31, 2006, against Rs 182.26 crore during the same period in 2005. Profit after Tax was higher at Rs 61.43 crore against Rs 32.61 crore in the previous year.

The Board has recommended dividend of 150 per cent for the year ended December 31, 2006.

Crisil's shares closed at Rs 2,927.10 on BSE.