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Delta Spinners fiscal Q2 profit climbs 46.0% YOY

Delta Spinners Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 11 poisha per share, a decline of 49.9% from 21 poisha per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.1 million taka, an increase of 46.0% from 11.7 million taka in the year-earlier period.

The normalized profit margin rose to 4.7% from 2.8% in the year-earlier period.

Total revenue fell 11.5% year over year to 367.1 million taka from 414.7 million taka, and total operating expenses fell 5.9% from the prior-year period to 314.5 million taka from 334.4 million taka.

Reported net income increased 28.7% from the prior-year period to 20.2 million taka, or 12 poisha per share, from 15.7 million taka, or 28 poisha per share.

As of Jan. 30, US$1 was equivalent to 77.44 taka.