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Marico Bangladesh fiscal Q1 profit climbs 11.9% YOY

Marico Bangladesh Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 12.61 taka per share, an increase of 11.9% from 11.27 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 397.1 million taka, a gain of 11.9% from 354.9 million taka in the year-earlier period.

The normalized profit margin fell to 18.5% from 18.5% in the year-earlier period.

Total revenue climbed 12.0% year over year to 2.15 billion taka from 1.92 billion taka, and total operating expenses grew 9.3% from the prior-year period to 1.55 billion taka from 1.42 billion taka.

Reported net income increased 11.8% year over year to 466.7 million taka, or 14.82 taka per share, from 417.2 million taka, or 13.25 taka per share.

As of July 28, US$1 was equivalent to 77.49 taka.