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Information Technology Consultants fiscal Q2 profit climbs 9.4% YOY

Information Technology Consultants Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 10 poisha per share, a decrease of 5.7% from 11 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 10.8 million taka, an increase of 9.4% from 9.9 million taka in the year-earlier period.

The normalized profit margin fell to 4.7% from 7.8% in the year-earlier period.

Total revenue rose 81.2% on an annual basis to 230.6 million taka from 127.2 million taka, and total operating expenses rose on an annual basis to 201.4 million taka from 99.5 million taka.

Reported net income increased 13.2% year over year to 17.8 million taka, or 17 poisha per share, from 15.7 million taka, or 18 poisha per share.

As of Jan. 28, US$1 was equivalent to 78.48 taka.