Citizen Investment Trust (CIT) Reports 13.43% Growth in Net Profit and 11.36% Surge in Investments for Q3 FY 2080/81; EPS at Rs. 22.14
Fri, May 10, 2024 9:28 AM on Financial Analysis, Company Analysis, Latest,
Citizen Investment Trust (CIT) has unveiled its financial report for the third quarter of the fiscal year 2080/81, demonstrating a significant 13.43% increase in net profit compared to the corresponding period in the previous fiscal year. The company's net profit reached Rs. 88.24 crores, marking a notable rise from Rs. 77.79 crores in FY 2079/80.
A noteworthy highlight of CIT's financial performance includes a substantial 17.82% increase in the insurance fund liability, totaling Rs. 2.94 Arba by the end of Q2 80/81. Additionally, CIT's total investments surged by 11.36%, reaching Rs. 2.36 Kharba, contributing to an 11.36% growth in total income, which stood at Rs. 1.41 Arba.
Despite the positive financial indicators, the annualized earnings per share (EPS) experienced a decline to Rs. 22.14, alongside a reduction in net worth per share, which stood at Rs. 171.41 in the third quarter of FY 2080/81.
CIT's stock closed at Rs. 2105 at the end of Q3, resulting in a price-to-earnings (PE) ratio of 95.07 times. However, the return on investment (ROI) saw a decrease, settling at 8.49% in Q3 FY 2080/81 compared to 9.67% in the corresponding quarter of FY 2079/80.
Notably, CIT maintains a substantial paid-up capital of Rs. 5.31 Arba as of FY 2080/81.
Major Highlights:
| Particulars (In Rs '000) | Citizen Investment Trust | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 5,313,750.00 | 4,251,000.00 | 25.00% |
| Share Premium | - | 283,787.00 | - |
| Insurance Fund Liability | 2,944,234.00 | 2,498,921.00 | 17.82% |
| Total Investment | 236,805,061.00 | 212,647,308.00 | 11.36% |
| Total Income | 1,412,527.00 | 1,256,916.00 | 12.38% |
| Total Expenses | 235,931.00 | 219,658.00 | 7.41% |
| Net Profit | 882,447.00 | 777,944.00 | 13.43% |
| Annualized EPS (In Rs.) | 22.14 | 24.40 | -9.25% |
| Return on Investment (%) | 8.49 | 9.67 | -12.20% |
| Fund to Investment Ratio (%) | 95.48 | 99 | -3.56% |
| Net Worth per Share (In Rs.) | 171.41 | 201.87 | -15.09% |
| Qtr end PE Ratio (times) | 95.07 | - | |
| Qtr End Market Price | 2105 | - | |
