OUTCOME OF BOARD MEETING DATED 06TH FEBRUARY, 2025 FOR UNAUDITED FINANCIAL RESULT FOR Q3
Awaiting price reaction for this filing.
Citizen Infoline reported a sharp deterioration in Q3 FY26, with revenue from operations collapsing to just ₹9 lakhs, down from ₹310 lakhs in Q2 FY26 and ₹93.77 lakhs in Q3 FY25. Total expenses of ₹18.17 lakhs against minimal income pushed the company into a loss before tax of ₹9.17 lakhs, compared to a profit of ₹16.53 lakhs in the previous quarter. Profit after tax also turned negative at ₹9.17 lakhs versus a profit of ₹1.29 lakhs in the year-ago quarter. On a cumulative 9-month basis, revenue stood at ₹453.57 lakhs with a PAT of ₹9.89 lakhs. The statutory auditors issued an unqualified limited review opinion, while flagging as an 'Other Matter' the Board-approved scheme of amalgamation with Citizen Solar Private Limited, which is awaiting NCLT approval.
The steep quarter-on-quarter revenue crash and swing back to losses are negative signals for shareholders and could weigh on the stock. However, the company remains profitable on a year-to-date basis, and the unqualified audit opinion provides some comfort.