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Marico Bangladesh profit holds relatively steady YOY in fiscal Q1

Marico Bangladesh Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 12.58 taka per share, compared with 12.61 taka per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 396.1 million taka, compared with 397.1 million taka in the prior-year period.

The normalized profit margin dropped to 17.5% from 18.5% in the year-earlier period.

Total revenue climbed 5.5% year over year to 2.26 billion taka from 2.15 billion taka, and total operating expenses climbed 7.0% on an annual basis to 1.66 billion taka from 1.55 billion taka.

Reported net income fell year over year to 454.2 million taka, or 14.42 taka per share, from 466.7 million taka, or 14.82 taka per share.

As of Aug. 10, US$1 was equivalent to 77.85 taka.