Domestic rating agency ICRA on August 29 stated that its board has approved the appointment of Venkatesh Viswanathan as the Group Chief Financial Officer effective tomorrow, August 30, 2022.
Viswanathan replaces Amit Kumar Gupta as the CFO, whose term ends tomorrow, ICRA, which is majority owned by global rating agency Moody's Group, said in a regulatory filing.
The rating agency also noted that Venkatesh has over two decades of experience in finance, accounts, audit, taxation, financial risks and controls, treasury, and internal audit.
Prior to joining ICRA, he worked with CRISIL as the CFO. His previous stints were with IT Nation (India) Pvt Ltd and the National Stock Exchange (NSE).
ICRA also mentioned that in the past, he has worked on enabling successful regulatory transitions, mergers, acquisitions, hive-offs, financial due diligences, tax structuring, and cost management. He has also led finance teams in various automation initiatives to work towards sustainable business growth.
Venkatesh is a commerce graduate and a chartered accountant.
Earlier this month, ICRA reported an 11 percent decline in the quarter ended 30 June, 2022 June. Its consolidated net stood at Rs 21.6 crore. It had reported a post-tax net of Rs 24.3 crore in the year-ago period and Rs 33.7 crore in the preceding March quarter.Its group chief executive and managing director Ramnath Krishnan attributed the slide in profit to a change in the accounting policies which caused the provision for taxes to go up by about Rs 5 crore and weighed on the bottom line.