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Dulamia Cotton Spinning Mills fiscal Q2 loss widens YOY

Dulamia Cotton Spinning Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to a loss of 64 poisha per share, compared with a loss of 62 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 a loss of 4.8 million taka, compared with a loss of 4.7 million taka in the prior-year period.

The normalized profit margin fell to negative 8.9% from negative 8.1% in the year-earlier period.

Total revenue declined 6.9% on an annual basis to 54.1 million taka from 58.1 million taka, and total operating expenses decreased 9.3% from the prior-year period to 59.0 million taka from 65.0 million taka.

Reported net income came to a loss of 7.9 million taka, or a loss of 1.05 taka per share, compared to a loss of 7.8 million taka, or a loss of 1.03 taka per share, in the year-earlier period.

As of Jan. 15, US$1 was equivalent to 77.86 taka.