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Bangas fiscal Q2 profit climbs 38.1% YOY

Bangas Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 1.06 taka per share, an increase of 38.2% from 76 poisha per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.7 million taka, an increase of 38.1% from 4.8 million taka in the prior-year period.

The normalized profit margin increased to 17.8% from 13.0% in the year-earlier period.

Total revenue totaled 37.4 million taka, compared with 37.2 million taka in the year-earlier period, and total operating expenses decreased 7.9% year over year to 26.2 million taka from 28.5 million taka.

Reported net income increased 38.1% on an annual basis to 7.7 million taka, or 1.23 taka per share, from 5.6 million taka, or 89 poisha per share.

As of Jan. 29, US$1 was equivalent to 77.40 taka.