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Marico Bangladesh fiscal Q4 profit falls YOY

Marico Bangladesh Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 5.18 taka per share, a decline of 31.6% from 7.57 taka per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 163.0 million taka, a decline of 31.7% from 238.6 million taka in the prior-year period.

The normalized profit margin fell to 10.8% from 18.7% in the year-earlier period.

Total revenue totaled 1.28 billion taka, compared with 1.28 billion taka in the prior-year period, and total operating expenses rose 7.5% year over year to 1.03 billion taka from 954.4 million taka.

Reported net income decreased 32.3% year over year to 193.7 million taka, or 6.15 taka per share, from 286.4 million taka, or 9.09 taka per share.

For the year, the company's normalized net income totaled 36.26 taka per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 46.96 taka.

EPS declined from 37.21 taka in the prior year.

Normalized net income was 1.14 billion taka, a fall from 1.17 billion taka in the prior year.

Full-year total revenue increased 11.7% from the prior-year period to 7.12 billion taka from 6.37 billion taka, and total operating expenses rose 12.7% year over year to 5.39 billion taka from 4.78 billion taka.

The company said reported net income decreased on an annual basis to 1.34 billion taka, or 42.69 taka per share, in the full year, from 1.39 billion taka, or 43.99 taka per share.

As of July 13, US$1 was equivalent to 77.66 taka.