Crisil net up 36% to Rs 4 crore

Rating agency Crisil today reported a 36 per cent increase in its net profit in the third quarter ended December 31, 2005 to Rs 4.04 crore from Rs 2.97 crore a year earlier.

Total income was up 63 per cent in the third quarter of 2005-06 to Rs 29.14 crore from Rs 17.85 crore a year earlier. Staff expenses of the rating agency, a subsidiary of global rating agency Standard & Poor's, increased to Rs 10.09 crore in October-December 2005 from Rs 6.55 crore a year earlier.

Crisil's board has recommended a dividend of 100 per cent for the nine months ended December 31, 2005 against 125 per cent in the previous year. Consolidated net profit for the quarter ended December 31, 2005 to Rs 4.81 crore from Rs 3.14 crore a year earlier.

Consolidated total income in the third quarter of 2005-06 was up 73 per cent to Rs 53.07 crore from Rs 30.67 crore a year earlier. Staff expenses rose by 91 per cent during the third quarter to Rs 20.07 crore from Rs 10.50 crore.

Crisil's staff expenses in the first nine months of 2005-06 totalled Rs 52.56 crore, higher than Rs 41.12 crore in the whole of 2004-05.

During nine months ended December 31, 2005, consolidated total income was Rs 142.59 crore against Rs 82.38 crore a year earlier. Its net profit during the nine month period was Rs 24.51 crore against Rs 11.74 crore a year earlier.

The consolidated accounts include accounts of Crisil and its subsidiaries Crisil Research and Information Services Ltd., Crisil MarketWire, Global Data Services of India, Crisil Properties Ltd, EconoMatters Ltd (UK) and its subsidiaries, Irevna Research Services, Irevna Limited (UK) and its subsidiary, and proportionate share in income and expenses of joint venture India Index Services & Products.