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Generation Next Q2 profit falls YOY

Generation Next Fashions Ltd. said its second-quarter normalized net income amounted to 14 poisha per share, a decline of 43.3% from 25 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 64.4 million taka, a decrease of 23.7% from 84.3 million taka in the prior-year period.

The normalized profit margin dropped to 9.5% from 11.6% in the year-earlier period.

Total revenue declined 7.4% on an annual basis to 675.7 million taka from 730.1 million taka, and total operating expenses climbed from the prior-year period to 562.5 million taka from 556.6 million taka.

Reported net income fell 24.1% year over year to 97.5 million taka, or 21 poisha per share, from 128.3 million taka, or 38 poisha per share.

As of July 15, US$1 was equivalent to 77.74 taka.