Crisil's Q1 bottomline edges up 7%

Rating agency Crisil announced a 7 per cent rise in net profit to Rs 3.90 crore for the first quarter ended June 30, 2004, compared with Rs 3.65 crore in the corresponding period last year.

The total income was Rs 18.62 crore as against Rs 15.89 crore in the corresponding quarter of the last year. Profit before depreciation and tax stood at Rs 7.60 crore (Rs 7.15 crore). It provided Rs 1.41 crore for depreciation and Rs 2.29 crore for taxation.

The consolidated revenue of the group for the quarter was Rs 25.29 crore. It includes accounts of Crisil and its subsidiaries "" Crisil Research and Information Services, Crisil MarketWire, Global Data Services of India and Crisil Properties Ltd, Economatters Ltd (UK) and its subsidiaries and proportionate share in income and expenses of joint venture India Index Services & Products Ltd.

A Crisil release said its advisory wing commenced on the Asian Development Bank mandate for monitoring reforms in the Indian Railways on schedule.

Other significant assignments during the quarter included working closely with Gas Strategies Consulting, its London-based international gas advisory business, to advise a company in India on a gas monetisation strategy; reviewing the legal framework in Tanzania for private sector participation; and completion of the NTPC mandate for international sourcing of LNG/natural gas for their gas plants on the West coast.

The process of integrating the organisation and processes of Economatters Ltd, its wholly owned subsidiary based in London, is complete.