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Standard Ceramic Industries fiscal Q3 profit falls YOY

Standard Ceramic Industries Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 51 poisha per share, a decrease of 14.1% from 60 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 3.3 million taka, a decline of 11.9% from 3.7 million taka in the year-earlier period.

The normalized profit margin declined to 3.5% from 4.8% in the year-earlier period.

Total revenue grew 23.3% year over year to 95.5 million taka from 77.5 million taka, and total operating expenses rose 25.8% year over year to 90.4 million taka from 71.9 million taka.

Reported net income rose year over year to 3.1 million taka, or 49 poisha per share, from 689,000 taka, or 11 poisha per share.

As of April 29, US$1 was equivalent to 78.44 taka.