Golden Harvest Agro Industries Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 11 poisha per share, a decline of 47.4% from 21 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 11.8 million taka, a decrease of 47.4% from 22.4 million taka in the year-earlier period.
The normalized profit margin dropped to 9.5% from 14.0% in the year-earlier period.
Total revenue decreased 22.5% on an annual basis to 123.3 million taka from 159.2 million taka, and total operating expenses decreased 29.3% from the prior-year period to 79.4 million taka from 112.2 million taka.
Reported net income decreased 39.4% from the prior-year period to 13.9 million taka, or 13 poisha per share, from 22.9 million taka, or 21 poisha per share.
As of Jan. 30, US$1 was equivalent to 77.44 taka.
