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Meghna Pet Industries fiscal Q2 loss narrows YOY

Meghna PET Industries Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to a loss of 7 poisha per share, compared with a loss of 32 poisha per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 828,710 taka, compared with a loss of 3.9 million taka in the prior-year period.

Total revenue grew 55.2% year over year to 202,450 taka from 130,480 taka, and total operating expenses declined 76.0% year over year to 1.5 million taka from 6.4 million taka.

Reported net income came to a loss of 1.3 million taka, or a loss of 11 poisha per share, compared to a loss of 6.2 million taka, or a loss of 52 poisha per share, in the prior-year period.

As of Jan. 23, US$1 was equivalent to 78.26 taka.