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Marico Bangladesh fiscal Q3 profit climbs 14.0% YOY

Marico Bangladesh Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 8.72 taka per share, an increase of 14.0% from 7.65 taka per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 274.6 million taka, a gain of 14.0% from 240.9 million taka in the prior-year period.

The normalized profit margin rose to 16.7% from 15.3% in the year-earlier period.

Total revenue grew year over year to 1.64 billion taka from 1.57 billion taka, and total operating expenses grew on an annual basis to 1.23 billion taka from 1.20 billion taka.

Reported net income grew 14.2% from the prior-year period to 323.5 million taka, or 10.27 taka per share, from 283.1 million taka, or 8.99 taka per share.

As of Jan. 27, US$1 was equivalent to 78.48 taka.