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Envoy Textiles fiscal Q2 profit climbs YOY

Envoy Textiles Ltd. said its normalized net income for the fiscal second quarter ended March 31 came to 75 poisha per share, a gain from 25 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 123.8 million taka, a gain from 41.1 million taka in the year-earlier period.

The normalized profit margin increased to 8.3% from 3.7% in the year-earlier period.

Total revenue grew 35.7% year over year to 1.50 billion taka from 1.10 billion taka, and total operating expenses climbed 25.8% on an annual basis to 1.23 billion taka from 979.4 million taka.

Reported net income rose from the prior-year period to 179.2 million taka, or 1.09 taka per share, from 61.8 million taka, or 38 poisha per share.

As of April 27, US$1 was equivalent to 77.86 taka.