Maksons Spinning Mills Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to 9 poisha per share, a decrease of 35.2% from 13 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 20.3 million taka, a decrease of 35.2% from 31.3 million taka in the prior-year period.
The normalized profit margin declined to 4.0% from 6.6% in the year-earlier period.
Total revenue rose 7.2% year over year to 511.6 million taka from 477.3 million taka, and total operating expenses increased 9.2% on an annual basis to 427.2 million taka from 391.3 million taka.
Reported net income declined 35.3% year over year to 22.7 million taka, or 10 poisha per share, from 35.1 million taka, or 15 poisha per share.
As of Feb. 17, US$1 was equivalent to 77.89 taka.
