Increase in Profit but Decline in EPS and Net Worth for Citizen Investment Trust (CIT)

Citizen Investment Trust (CIT) has published its financial statements for the second quarter of the current fiscal year. The report indicates a moderate increase in net profit compared to the same period last year.

Net Profit:

• CIT has recorded a net profit of Rs 62.22 crore in the second quarter of the current fiscal year.

• This represents a 13.97% increase compared to Rs 54.60 crore in the same period last year.

Income:

• Interest income declined by 15.76%, totaling Rs 19.33 crore.

• Service fees and commission income surged by 187.31%, reaching Rs 10.19 crore.

Total Revenue & Expenses:

• Total revenue increased by 12.43%, reaching Rs 10.39 billion.

• Total expenses increased by 6.14%, reaching Rs 2.86 billion.

Earnings Per Share (EPS):

• EPS decreased by Rs 1.35, standing at Rs 19.20.

Net Worth Per Share:

• Net worth per share declined to Rs 143.18, down from Rs 165.08 in the previous year.

Capital Structure:

• Paid-up Capital: Rs 6.48 billion.

• Reserve Fund: Rs 28.70 billion.

Despite the rise in service fees and commission income, the decline in interest income, EPS, and net worth poses challenges for the company. A new strategic approach may be necessary to improve overall performance.