Crisil Net Declines Marginally to Rs 71 Crore

Mumbai: Rating agency Crisil today said its net profit marginally declined to Rs 71.11 crore in the quarter ended September on account of some losses in foreign exchange.

The company had reported a profit after tax of Rs 73.26 crore in the same period last year.

"Net profit for the September quarter was marginally lower compared to corresponding quarter of the previous year mainly on account of adverse foreign exchange impact," Crisil said in a release.

For the nine-month period, consolidated profit after tax increased 7.8 per cent to Rs 197.65 crore, from Rs 183.35 crore.

The rating agency's consolidated income from operations jumped 9.5 per cent to Rs 313.52 crore in the three months to September from Rs 286.40 crore in the corresponding quarter of the previous year.

For the nine months ended September 30, consolidated income from operations increased 14.9 per cent to Rs 927.88 crore from Rs 807.24 crore for the corresponding period of the previous year.

During the quarter, within ratings, bank loan ratings witnessed good growth, while capital market activity was muted.

The overall business environment, however, is improving with initial signs of an uptick in investment demand, Crisil said.

"The measures announced by the government to boost infrastructure investments and innovative funding structures are likely to provide renewed impetus for growth in the coming quarters," Crisil said.