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Shinepukur Ceramics Q1 profit falls YOY

Shinepukur Ceramics Ltd. said its normalized net income for the first quarter was 3 poisha per share, a decline of 73.9% from 12 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 4.4 million taka, a decline of 73.9% from 17.0 million taka in the prior-year period.

The normalized profit margin dropped to 1.0% from 3.8% in the year-earlier period.

Total revenue fell 5.2% year over year to 425.6 million taka from 449.1 million taka, and total operating expenses increased on an annual basis to 353.2 million taka from 348.4 million taka.

Reported net income declined 80.0% year over year to 4.6 million taka, or 3 poisha per share, from 23.0 million taka, or 16 poisha per share.

As of May 13, US$1 was equivalent to 77.76 taka.