CRISIL (CRISIL) Q4 98/99 earnings summary

Executive summary

• Total income reached Rs 402,112,461 vs Rs 360,141,437; profit after tax rose to Rs 125,031,482 from Rs 99,172,568.

• Challenging credit and debt-market conditions reduced new debt-instrument ratings, while advisory and research services expanded products, assignments and client reach.

Financial highlights

• Income from operations was Rs 363,742,410 vs Rs 322,604,573; other income was Rs 38,370,051 vs Rs 37,536,864.

• Profit before depreciation and tax was Rs 249,502,236 vs Rs 195,615,191; depreciation was Rs 41,144,906 vs Rs 41,131,257.

• Profit before tax was Rs 208,357,330 vs Rs 154,483,934; tax provision was Rs 83,325,848 vs Rs 55,311,366; profit after tax was Rs 125,031,482 vs Rs 99,172,568.

• Proposed dividend was 55%, compared with 45% in FY 1997-98, which included a special 10% tenth-anniversary dividend.

Outlook and guidance

• Demand for analysed data, risk assessment, investment evaluation and restructuring support was expected to offer strong prospects in the coming year.

• Life insurance, pension funds and bond funds were identified as potential future rating opportunities; advisory services were positioned for further assignments.