CRISIL (CRISIL) Q4 97/98 earnings summary

Executive summary

• FY ended Mar. 31, 1998 revenue reached Rs. 3,601.41 lacs; profit after tax was Rs. 991.73 lacs amid difficult economic and industry conditions.

• Growth reflected more debt ratings, infrastructure-related business, commercial paper activity and expansion of research and advisory services.

Financial highlights

• Revenue was Rs. 3,601.41 lacs, versus Rs. 2,663 lacs in FY1996-97; PBDIT was Rs. 1,956.15 lacs.

• Profit before tax was Rs. 1,544.84 lacs; depreciation was Rs. 411.31 lacs; reported profit after tax was Rs. 991.73 lacs.

• Total income was Rs. 3,601.41 lacs, including operating income of Rs. 3,226.05 lacs and other income of Rs. 375.37 lacs.

• Dividend recommended at 45%, including a special 10% tenth-anniversary dividend, versus 30% in the prior year.

Outlook and guidance

• Prospects seen in rising demand for information supporting credit-risk assessment, investment evaluation and strategic planning.

• Priority areas include power-sector reform, state disinvestment, private participation in power and roads, LNG and gas, urban infrastructure and credit-risk management.

• Assignments on hand included LNG, State Electricity Board retainers, fuel supply and payment-support mechanisms, corporate risk management and state disinvestment.