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Familytex Q2 profit falls YOY

Familytex (BD) Ltd. said its second-quarter normalized net income amounted to 25 poisha per share, a decrease of 51.5% from 53 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 86.0 million taka, a decrease of 51.5% from 177.1 million taka in the year-earlier period.

The normalized profit margin dropped to 13.5% from 17.7% in the year-earlier period.

Total revenue decreased 36.5% on an annual basis to 634.5 million taka from 998.8 million taka, and total operating expenses fell 31.6% on an annual basis to 489.7 million taka from 715.6 million taka.

Reported net income decreased 59.1% from the prior-year period to 116.0 million taka, or 34 poisha per share, from 283.4 million taka, or 84 poisha per share.

As of July 15, US$1 was equivalent to 77.74 taka.