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Standard Ceramic Industries fiscal Q1 profit climbs YOY

Standard Ceramic Industries Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 27 poisha per share, a gain from 13 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 1.8 million taka, an increase from 880,630 taka in the prior-year period.

The normalized profit margin rose to 2.4% from 1.6% in the year-earlier period.

Total revenue climbed 32.8% year over year to 74.9 million taka from 56.4 million taka, and total operating expenses increased 31.6% on an annual basis to 72.4 million taka from 55.0 million taka.

Reported net income increased 17.0% from the prior-year period to 999,000 taka, or 15 poisha per share, from 854,000 taka, or 13 poisha per share.

As of Oct. 15, US$1 was equivalent to 77.38 taka.