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Monno Ceramic Industries fiscal Q1 profit falls YOY

Monno Ceramic Industries Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 7 poisha per share, a decrease of 41.2% from 12 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 1.7 million taka, a decrease of 45.1% from 3.1 million taka in the year-earlier period.

The normalized profit margin fell to 0.9% from 1.6% in the year-earlier period.

Total revenue declined on an annual basis to 183.1 million taka from 187.6 million taka, and total operating expenses totaled 168.1 million taka, compared with 168.0 million taka in the prior-year period.

Reported net income fell 53.3% from the prior-year period to 1.8 million taka, or 8 poisha per share, from 3.9 million taka, or 15 poisha per share.

As of Oct. 30, US$1 was equivalent to 77.41 taka.