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Kohinoor Chemical fiscal Q1 profit falls YOY

Kohinoor Chemical Co. (Bangladesh) Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 1.50 taka per share, a decline of 9.9% from 1.67 taka per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.1 million taka, a decrease of 9.7% from 23.4 million taka in the year-earlier period.

The normalized profit margin rose to 3.3% from 3.3% in the year-earlier period.

Total revenue declined 10.5% on an annual basis to 637.5 million taka from 712.5 million taka, and total operating expenses fell 10.1% year over year to 595.3 million taka from 662.2 million taka.

Reported net income declined 5.5% year over year to 24.9 million taka, or 1.78 taka per share, from 26.4 million taka, or 1.88 taka per share.

As of Oct. 15, US$1 was equivalent to 77.81 taka.