BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Centrum Broking Report
CRISIL Ltd.’s Q2 CY20 overall results were a beat on the revenue front as all three segment revenues surprised positively though opex saw a sequential spike that led to a miss on consolidated profit after tax (PAT). Revenue beat was mainly led by research /ratings that rose by 17.6%/10.1% YoY. Excluding Greenwich, the research segment de-grew by 1.1%. Other income was down 1.0% YoY to Rs 121 million (versus estimate of Rs 172 million). Overall PAT for the quarter was a miss at Rs 663 million that included Greenwich loss and excluding the same consolidated PAT was up 28.5% YoY.
We like CRISIL owing to its global presence, strong parentage, diversified business profile and geographic spread though recent price appreciation leaves limited upside.
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