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Imam Button Industries fiscal Q2 loss narrows YOY

Imam Button Industries Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to a loss of 19 poisha per share, compared with a loss of 46 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 a loss of 1.5 million taka, compared with a loss of 3.6 million taka in the prior-year period.

The normalized profit margin increased to negative 16.7% from negative 43.9% in the year-earlier period.

Total revenue climbed 10.2% on an annual basis to 9.0 million taka from 8.1 million taka, and total operating expenses declined 16.8% from the prior-year period to 11.1 million taka from 13.4 million taka.

Reported net income came to a loss of 2.4 million taka, or a loss of 31 poisha per share, compared to a loss of 5.7 million taka, or a loss of 74 poisha per share, in the year-earlier period.

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