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Standard Ceramic Industries fiscal Q2 profit falls YOY

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Standard Ceramic Industries fiscal Q2 profit falls YOY

Standard Ceramic Industries Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 24 poisha per share, a decrease of 27.1% from 33 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 1.5 million taka, a decline of 28.9% from 2.1 million taka in the year-earlier period.

The normalized profit margin declined to 2.3% from 3.9% in the year-earlier period.

Total revenue rose 22.6% on an annual basis to 65.6 million taka from 53.5 million taka, and total operating expenses increased 26.9% on an annual basis to 63.8 million taka from 50.3 million taka.

Reported net income declined 71.0% on an annual basis to 697,000 taka, or 11 poisha per share, from 2.4 million taka, or 37 poisha per share.

As of Jan. 15, US$1 was equivalent to 77.86 taka.