Crisil Q4 profit stays flat at Rs 73 crore
Rating agency Crisil has reported a muted net profit in March quarter at Rs 73.34 crore while its March 2016 net profit stood at Rs73.15 crore
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Mumbai: Rating agency Crisil has reported a muted net profit at Rs 73.34 crore for the March quarter, largely due to adverse forex movement and subdued growth in the mid-corporate and MSME segments.
Its March 2016 net profit stood at Rs 73.15 crore.
Net was impacted by Rs 11.9 crore due to adverse forex movement against a gain of Rs 3.31 crore in the year-ago period. Its consolidated income grew 12% to Rs 402.23 crore, the company said in a statement.
“Growth for the quarter was driven by our research segment on account of opportunities in risk & analytics such as model validation, stress testing and regulatory change management,” the company said, adding the ratings business witnessed modest growth despite a continued weak investment climate and soft credit growth.