India’s largest credit rating agency, CRISIL , for its second quarter ended 30^th June 2014, showed a 4%(YoY) decline in its consolidated net profit at Rs.58 crore though the fall was sharper QoQ, down 16%. Consolidated revenue was up 15% (YoY) at Rs.305 crore though it was down 1.3% (QoQ). There was a forex gain of Rs.1.29 crore during the quarter.

The company has three segments – rating services (37% to net revenue), research services (59% to net revenue) and advisory services (4% to net revenue). All three segments showed a rise in revenue  but in terms of EBIT, research showed a decline of 8%, rating services was flat and advisory showed a 22% fall. The company has stated that operating environment both in India as well as globally was challenging, with mild signs of recovery in the second quarter of 2014. The business environment for ratings continued to be subdued during the quarter, with limited activity in the bond markets and in securitisation.