Kathmandu: The Citizen Investment Trust (CIT) has reported a 13 percent rise in net profit for the first quarter of the current fiscal year. According to the company’s recently published financial report, the net profit reached NPR 300 million, up from NPR 264.8 million during the same period last year.

Despite a decline in interest income, the increase in service fees and commission income contributed to the profit growth. Service fees and commission income rose to NPR 391.6 million from NPR 329.5 million. However, interest income dropped from NPR 124.5 million to NPR 119.8 million.

The company’s net worth per share stands at NPR 157.42, compared to NPR 159.79 at the end of the same period last year. Annual earnings per share (EPS) have slightly decreased from NPR 19.94 to NPR 19.87, primarily due to an increase in the number of issued shares. Over one year, the company’s share capital grew from NPR 5.31 billion to NPR 6.05 billion.