Credit Rating Information Services of India Ltd (Crisil) has reported a growth of 25 per cent in net profit for year end 1998-99 and the board of directors has recommended a 10 percentage point hike in dividend to 55 per cent.
Crisil has recorded a net profit of Rs 12.50 crore against Rs 9.92 crore in the previous year. The gross profit after interest, but before depreciation and taxation, stood at Rs 24.95 crore against Rs 19.56 crore.
During the same period, Crisil provided depreciation of Rs 4.11 crore, taxation of Rs 8.33 crore and expenditure of Rs 15.26 crore.
Crisil has stated, "The company has registered a healthy growth in revenues despite widespread difficulty in the industry. The introduction of innovative new products and diversification into research, information and advisory services contributed significantly to growth."
The income from operations stood at Rs 36.37 crore (Rs 32.26 crore), while other income is at Rs 3.83 crore (Rs 3.75 crore).
The reserves of the company as up to Rs 44.34 crore (Rs 35.62 crore), which excludes revaluation reserves. TLE>
