 "CRISIL rallies on strong Q1 results")
CRISIL has rallied 11% to Rs 2,197 on the BSE in early morning trade after the ratings agency reported 40% year on year (YoY) jump in its consolidated net profit at Rs 78.60 crore for the first quarter (Q1) ended March 31, 2016. The company had registered a profit of Rs 56.32 crore in the corresponding quarter of the previous year.
The global analytical company uses the January-December calendar year for accounting purposes.
The company's consolidated total income from operations increased by 17% to Rs 359 crore from Rs 308 crore in the like quarter of last year.
"The quarter saw a strong growth in risk and analytics and financial research businesses under our global research and analytics vertical, while the performance of India focused businesses remained subdued because of weak investment demand and credit growth," said Ashu Suyash, managing director and chief executive of CRISIL.
The ratings business growth was muted due to weak credit off-take and continued slowdown in the investment cycle. Analytics business continued to see strong growth in stress testing, model validation and regulatory support services, the company said in a statement.
At 09:27 am, the stock was up 9% at Rs 2,163 on the BSE as compared to 0.26% rise in the S&P BSE Sensex. A combined 39,929 shares changed hands on the BSE and NSE so far.
The global analytical company uses the January-December calendar year for accounting purposes.
Read more from our special coverage on "CRISIL"
The company's consolidated total income from operations increased by 17% to Rs 359 crore from Rs 308 crore in the like quarter of last year.
"The quarter saw a strong growth in risk and analytics and financial research businesses under our global research and analytics vertical, while the performance of India focused businesses remained subdued because of weak investment demand and credit growth," said Ashu Suyash, managing director and chief executive of CRISIL.
The ratings business growth was muted due to weak credit off-take and continued slowdown in the investment cycle. Analytics business continued to see strong growth in stress testing, model validation and regulatory support services, the company said in a statement.
At 09:27 am, the stock was up 9% at Rs 2,163 on the BSE as compared to 0.26% rise in the S&P BSE Sensex. A combined 39,929 shares changed hands on the BSE and NSE so far.
