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Standard Ceramic Industries fiscal Q1 profit climbs YOY

Standard Ceramic Industries Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 29 poisha per share, a gain of 8.3% from 27 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 1.9 million taka, an increase from 1.8 million taka in the year-earlier period.

The normalized profit margin climbed to 3.6% from 2.4% in the year-earlier period.

Total revenue fell 30.7% on an annual basis to 51.9 million taka from 74.9 million taka, and total operating expenses decreased 32.1% from the prior-year period to 49.1 million taka from 72.4 million taka.

Reported net income declined 17.3% year over year to 826,000 taka, or 13 poisha per share, from 999,000 taka, or 15 poisha per share.

As of Oct. 15, US$1 was equivalent to 77.81 taka.