Earnings boost: Crisil stock surges 14% on robust March quarter PAT

Mumbai: Shares of ratings agency Crisil surged nearly 14 percent after the company posted a 40 percent rise in its consolidated net profit for the quarter ended March.  The stock zoomed 13.16 percent to Rs 2,244.40 on BSE. On NSE, it advanced 13.59 percent to Rs 2,244.40. Stock markets were shut yesterday for ‘Mahavir Jayanti’. Crisil yesterday posted a 40 percent rise in consolidated net profit at Rs 78.6 crore for the first quarter to March. The company’s net profit stood at Rs 56.32 crore in the January-March quarter of last year. It follows January-December fiscal calendar as against April-March by most Indian companies. Crisil’s total income increased to Rs 368.57 crore for the quarter from Rs 310.72 crore in the year-ago period, it had said in a BSE filing. On a stand-alone basis, Crisil’s net profit was up 44 percent at Rs 65.64 crore in the first quarter of this year. The stand-alone income rose to Rs 267.2 crore during the quarter under review as against Rs 227.3 crore a year ago. The Crisil board has declared an interim dividend of Rs 5 per share for the financial year ending December 2016.