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Kohinoor Chemical fiscal Q2 profit falls YOY

Kohinoor Chemical Co. (Bangladesh) Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 1.54 taka per share, a decrease of 5.4% from 1.62 taka per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.5 million taka, a decrease of 5.6% from 22.8 million taka in the year-earlier period.

The normalized profit margin dropped to 3.2% from 3.7% in the year-earlier period.

Total revenue increased 8.7% on an annual basis to 670.2 million taka from 616.5 million taka, and total operating expenses climbed 9.9% year over year to 628.9 million taka from 572.4 million taka.

Reported net income rose year over year to 25.7 million taka, or 1.83 taka per share, from 24.9 million taka, or 1.78 taka per share.

As of Jan. 15, US$1 was equivalent to 78.52 taka.