Economic recovery to boost revenues across business segments: The rating revenues witnessed 8% growth in 2014 compared to last year. Research andadvisory revenues were up 16% and 14% respectively. Research segment profitability grew by 6% on account of improved performance by GR&A (Global Research & Analytics). Ratings profitability was marginally up by 1% due to sluggish business environment. The advisory segment witnessed a fall in profitability of around 12% on account of challenging business environment. Going forward, the consolidated revenues are likely to grow on the back of debt issuances by corporations and financial institutions which in turn can improve the businesses for CRISIL.