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Crisil Q1 net down 34% at Rs 2.20 cr

MUMBAI: Crisil has ended the first quarter of 2000-2001 with a 34 per cent decline in net profit at Rs. 2.20 crores against Rs. 3.33 crores in the same period the previous year.

Income from operations stood at Rs. 10.27 crores (Rs. 8.62 crores). Other income has dropped sharply to Rs. 9.17 lakhs (Rs. 1.09 crores) due to utilisation of treasury for acquisition of business of Information Products and Research Services India Privat e Ltd along with its brand Infac and purchase of new office premises.

The company, however, expects to make up the same by building up treasury through sale of existing premises, a press release said.

Total income stood at Rs. 10.36 crores (Rs 9.72 crores). Total expenditure was Rs. 5.67 crores (Rs. 4.28 crores).

Depreciation was Rs. 1.40 crores (Rs. 0.63 crore) and provision for taxation was Rs. 1.1 crores (Rs. 1.47 crores).

Depreciation was higher due to acquisition of brand Infac and purchase of new office premises.

Crisil has begun work on assignments outsourced from partners abroad. In the securitisation segment, mortgage-backed securities (MBS) and collateralised loan obligations (CLO) instruments are expected to be placed shortly in the country and Crisil expe cts improved business prospects for the same. -- Our Bureau