Lacklustre bond market impacts Crisil's financial performance

Mumbai, Apr 12 (UNI) Rating agency Crisil today announced a fall of 17 per cent in its net profit at Rs 7.92 crore for the quarter ended March 31, as against Rs 9.59 crore in the corresponding period of last year.

According to a release here today, the total income was up by five per cent at Rs 33.97 crore, as against Rs 32.27 crore for the same corresponding period last year.

At the consolidated group level, the net profit was, however, up by 10 per cent at Rs 8.92 crore as against Rs 8.11 crore for the corresponding quarter of the previous year.

The consolidated income was up by 44 per cent at Rs 56.98 crore as against Rs. 39.68 crore for the corresponding quarter of the previous year.

The company claimed that its performance was impacted by the lack-lustre domestic bond market but despite competition from domestic bank lending and foreign borrowing, it still managed to maintain its healthy performance.

However, the market is expected to pick up in the coming months, following the persistent uptrend in investment activity, the release.

UNI GC/JJ PP SKB1923