Crisil had a new 52-week high on the back of its very good performance for its second quarter ended 30^th June 2013.  This Standard & Poor’s company posted a 38% (YoY) rise in consolidated net profit at Rs.60.52 crore on a 23% rise in income at Rs.266 crore.  The company had a substantial other income at Rs.17 crore, of which Rs.11 crore was on account of forex gain. In terms of segment break-up, its main fray is not rating services but research services, which in this current Q2 was at Rs.152.34 crore, which was 57% of the total revenue earned and YoY, rose 34%. Rating service contributed 38% to the total revenue and YoY, it rose 11%. Advisory services forms a miniscule part of its earnings, contributing 5% to the revenue  and this income remains stagnant. Its research services recorded an EBIT of 33% v/s 32% (YoY) and that of rating services rose to a robust 39% v/s 35% (YoY).

The growth in ratings revenue was driven by an increase in bond issuances during the quarter. SME Ratings business also did well and this was backed by greater acceptance by the banking system and an increasing footprint across the country. Its Global Analytical Centre (GAC) continued to see good demand from analytical teams of Standard & Poor’s. As per the company, Crisil Research rolled out 23 debt indices of varying maturities across the gilt, credit and money markets for the domestic market during the reporting period. The company, which follows the Jan-Dec year, for the 6-month ended 30^th June 2013, posted a consolidated net profit at Rs.110 crore v/s Rs.220 crore for CY2012. Clearly, this year might end on a much higher note.