CRISIL declared a very exuberant Q4FY16 with a very healthy 40% (YoY) jump in consolidated net profit at Rs.79 crore on a 17% rise in revenue at Rs.359 crore.  EBITDA showed a good growth too – up 30% at Rs.112 crore with margins jumping up from 28.1% to 31.3%.

What the numbers show is that its main source of income does not come from its rating services but from research. This service, Research, contributes 65% to total revenue earned and was up 21% with EBIT showing a 50% jump. Rating services revenue growth was at 6%, contributing 30% to topline. EBIT rose 12%. Its third vertical – advisory services is very miniscule and it in fact posted loss at EBIT levels.