CRISIL rose 2.10% to Rs 1,200 at 9:43 IST on BSE after consolidated net profit surged 95.6% to Rs 116.81 crore on 5.7% increase in income from operations to Rs 286.40 crore in Q3 September 2013 over Q3 September 2011.
The result was announced after market hours on Friday, 18 October 2013.
Meanwhile, the BSE Sensex was up 77.05 points, or 0.37%, to 20,959.94.
On BSE, 825 shares were traded in the counter compared with average volume of 13,376 shares in the past one quarter.
The stock hit a high of Rs 1,210 and a low of Rs 1,175 so far during the day. The stock hit a 52-week high of Rs 1,270 on 20 September 2013. The stock hit a 52-week low of Rs 881.05 on 28 March 2013.
The stock had underperformed the market over the past one month till 18 October 2013, rising 3.08% compared with the Sensex's 4.61% rise. The scrip had also underperformed the market in past one quarter, falling 0.67% as against Sensex's 3.75% rise.
The mid-cap company has an equity capital of Rs 7.05 crore. Face value per share is Re 1.
CRISIL reported an exceptional profit of Rs 65.88 crore on a consolidated basis on sale of 6.37 lakh equity shares of India Index Services & Products (IISL) representing 49% of holding in IISL.
During the quarter, CRISIL sold its entire equity stake in IISL, a joint venture with National Stock Exchange of India (NSE), for a total consideration of Rs 100 crore. The stake represented 49% of the equity share capital of IISL.
CRISIL said the quarter saw extreme volatility in the Indian financial markets, coupled with high interest rates and a decline in economic growth. It resulted in a virtual halt to any type of issuance, whether equity or bonds. This affected CRISIL's bond ratings and India research businesses, leading to muted revenue growth. Ratings revenues were driven by the Bank Loan Ratings and SME Ratings businesses. The Global Analytical Centre (GAC) business of CRISIL continues to see good demand from the analytical team of S&P Ratings, driven by a pick-up in business volumes across the global corporate and structured finance domains, the company said in a statement.
CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services. CRISIL's majority shareholder is Standard and Poor's (S&P). Standard & Poor's, a part of McGraw Hill Financial, is the world's foremost provider of credit ratings.
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