Crisil net profit down 16 pc at Rs 95 cr in Q4

Rating firm Crisil has reported a decline of 16.3 per cent in net profit to Rs 95.3 crore for the fourth quarter ended December 31.

It had posted a net profit of Rs 113.8 crore in October-December quarter of the previous fiscal. The company follows January-December financial year.

Consolidated income from operations for the quarter ended December 31, 2019, stood at Rs 464.3 crore, compared to Rs 467 crore in the same quarter of 2018, it said in a regulatory filing.

Total income for the quarter was Rs 484.3 crore, as against Rs 496.5 crore in the corresponding quarter of the previous fiscal.

In 2019, the company paid three interim dividends totalling Rs 19 per equity share of face value of rupee 1 each. The board of directors has recommended a final dividend of Rs 13 per share, it said.

The total dividend for the year works out to Rs 32 per share.

"The ratings business logged robust growth despite a slowing economy, while on the global front, Coalition did well even as regulatory changes and tempering demand for traditional risk offerings in the US affected our Risk and Analytics business," Ashu Suyash, MD & CEO, Crisil, said.

He said the domestic economic scenario continues to be muted, with GDP growth expected to print at a decadal low, stress in the financial sector and weak investment appetite.

The Board further approved re-appointment of Ashu Suyash as the Managing Director (MD) & Chief Executive Officer (CEO) of the Company for a period of five years, with effect from June 1, 2020, subject to approval of the shareholders of the company.

Stock of Crisil closed 2.70 per cent down at Rs 1,619.70 on the BSE.