Citizen Investment Trust (CIT) Reports 6.38% Surge in Q2 Net Profit; Bolsters Portfolio with 14.27% Surge in Total Investments
Fri, Feb 9, 2024 10:32 AM on Financial Analysis, Company Analysis, Latest,
Citizen Investment Trust (CIT) has unveiled its Q2 financial report for the fiscal year 2080/81, showcasing a significant 6.38% increase in net profit compared to the same period in the previous year. The company's net profit reached Rs. 54.6 crores, up from Rs. 51.32 crores in FY 2079/80.
A noteworthy highlight includes a substantial 29.01% rise in the insurance fund liability, totaling Rs. 2.06 Arba by the end of Q2 80/81. CIT's total investments surged by 14.27%, reaching Rs. 2.35 Kharba, contributing to a 10.81% growth in total income, which stood at Rs. 92.45 crores.
Despite the positive financial performance, the annualized earnings per share (EPS) experienced a decline to Rs. 20.55, alongside a reduction in net worth per share at Rs. 165.08 in the second quarter of FY 2080/81.
CIT's stock closed at Rs. 2215 at the end of Q2, resulting in a price-to-earnings (PE) ratio of 107.78 times. The return on investment (ROI) saw a slight decrease, settling at 9.1% in Q2 FY 2080/81 compared to 9.42% in the corresponding quarter of FY 2079/80.
| Particulars (In Rs '000) | Citizen Investment Trust | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 5,313,750.00 | 4,251,000.00 | 25.00% |
| Share Premium | - | 283,787.00 | - |
| Insurance Fund Liability | 2,069,986.00 | 1,604,497.00 | 29.01% |
| Total Investment | 235,050,821.00 | 205,692,601.00 | 14.27% |
| Total Income | 924,586.00 | 834,358.00 | 10.81% |
| Total Expenses | 196,583.00 | 150,041.00 | 31.02% |
| Net Profit | 546,002.00 | 513,238.00 | 6.38% |
| Annualized EPS (In Rs.) | 20.55 | 24.15 | -14.89% |
| Return on Investment (%) | 9.1 | 9.42 | -3.40% |
| Fund to Investment Ratio (%) | 97.73 | 99.75 | -2.03% |
| Net Worth per Share (In Rs.) | 165.08 | 195.65 | -15.62% |
| Qtr end PE Ratio (times) | 107.78 | - | |
| Qtr End Market Price | 2215 | - | |
