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Crisil profit rises 15 pc to Rs 88 crore in Jan-Mar
Ratings firm Crisil has reported 15 per cent rise in its net profit at Rs 88.1 crore in first quarter ended March of the fiscal year 2020.
The S&P Global Company's Indian unit had reported net profit of Rs 76.6 crore during the same quarter a year ago, which follows the fiscal year same as the calendar year.
The company's consolidated income from operations for the quarter ended March 31, 2020, rose 2.9 per cent to Rs 427.8 crore as compared to Rs 415.8 crore in the corresponding quarter of 2019, Crisil said in a late night exchange filing on Tuesday.
"While domestic slowdown signs were manifesting since the beginning of 2020, the COVID-19 pandemic has had a significant impact on society and economies, leading to global recession and a very deep slowdown in India as indicated by the sharp downward revision in GDP estimates, said Ashu Suyash, managing director and CEO, Crisil.
Such unprecedented time call for extraordinary action, he noted.
Crisil completed the acquisition of Greenwich Associates LLC (Greenwich) on February 26, 2020, the filing said.
Stock of Crisil was trading at Rs 1,396.90 on the BSE, down 0.42 per cent from its previous close.