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Credit rating agency Crisil has reported a marginal dip in its second-quarter consolidated net profit as expenses rose and revenue slowed in its advisory services business. Crisil follows a January-December results calendar.
In the April-June quarter, the company earned a consolidated net profit of Rs 43.70 crore against Rs 44.44 crore, a year ago.
Consolidated figures includes results of the parent company – Crisil Ltd and its subsidiaries.
Revenue
Its advisory services business revenue dropped to Rs 12.29 crore from Rs 15.68 crore, a year earlier. Total expenditure grew about 9.5 per cent to Rs. 164.83 crore. Total revenue, however, grew about 6.5 per cent to Rs 216.27 crore (Rs. 203.12 crore).
“Revenue growth was driven by growth in bank loan ratings and SME ratings,” the company said.
Net profit
On a standalone basis, Crisil reported a 7.45 per cent increase in net profit to Rs 43.22 crore in the April-June quarter. The agency had recorded a net profit of Rs 40.22 crore in the year-ago period.
The board of directors declared a dividend of Rs 3 per share on shares of face value of Re 1 each.
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