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Posted On : 21 Apr, 2017  Source : PTI  Place : Mumbai 
Crisil reports flat Q1 net on high forex losses
 Rating agency Crisil has reported a muted net profit at Rs 73.34 crore for the March quarter, largely due to adverse forex movement and subdued growth in the mid-corporate and MSME segments. Its March 2016 net profit stood at Rs 73.15 crore.

Net was impacted by Rs 11.9 crore due to adverse forex movement against a gain of Rs 3.31 crore in the year-ago period.

Its consolidated income grew 12 per cent to Rs 402.23 crore, the company said in a statement.

"Growth for the quarter was driven by our research segment on account of opportunities in risk & analytics such as model validation, stress testing and regulatory change management," the company said, adding the ratings business witnessed modest growth despite a continued weak investment climate and soft credit growth.