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Peninsula Chittagong fiscal Q2 profit climbs 48.1% YOY

Peninsula Chittagong Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 29 poisha per share, an increase of 43.7% from 20 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 34.6 million taka, an increase of 48.1% from 23.4 million taka in the year-earlier period.

The normalized profit margin rose to 34.7% from 23.4% in the year-earlier period.

Total revenue came to 99.7 million taka, compared with 100.0 million taka in the prior-year period, and total operating expenses climbed 25.9% year over year to 73.2 million taka from 58.2 million taka.

Reported net income increased 71.8% year over year to 40.2 million taka, or 33 poisha per share, from 23.4 million taka, or 20 poisha per share.

As of Jan. 29, US$1 was equivalent to 77.40 taka.