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Emerald Oil fiscal Q2 profit climbs 74.6% YOY

Emerald Oil Industries Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 50 poisha per share, an increase of 72.8% from 29 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 30.0 million taka, a gain of 74.6% from 17.2 million taka in the prior-year period.

The normalized profit margin climbed to 6.4% from 5.1% in the year-earlier period.

Total revenue grew 38.8% year over year to 466.9 million taka from 336.4 million taka, and total operating expenses rose 36.4% on an annual basis to 382.4 million taka from 280.2 million taka.

Reported net income grew 97.2% year over year to 39.5 million taka, or 66 poisha per share, from 20.0 million taka, or 34 poisha per share.

As of Jan. 15, US$1 was equivalent to 77.86 taka.