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Alhaj Textile Mills fiscal Q2 profit falls YOY

Alhaj Textile Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 16 poisha per share, a decline of 7.8% from 17 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 3.3 million taka, a decline of 7.8% from 3.5 million taka in the prior-year period.

The normalized profit margin increased to 9.9% from 5.8% in the year-earlier period.

Total revenue declined 46.1% on an annual basis to 33.1 million taka from 61.5 million taka, and total operating expenses decreased 45.9% year over year to 32.0 million taka from 59.0 million taka.

Reported net income declined 25.9% on an annual basis to 3.6 million taka, or 18 poisha per share, from 4.8 million taka, or 24 poisha per share.

As of Jan. 28, US$1 was equivalent to 77.85 taka.