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.
