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Dulamia Cotton Spinning Mills fiscal Q2 loss narrows YOY

Dulamia Cotton Spinning Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to a loss of 54 poisha per share, compared with a loss of 64 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 4.1 million taka, compared with a loss of 4.8 million taka in the year-earlier period.

The normalized profit margin rose to negative 8.0% from negative 8.9% in the year-earlier period.

Total revenue declined on an annual basis to 51.5 million taka from 54.1 million taka, and total operating expenses declined from the prior-year period to 57.0 million taka from 59.0 million taka.

Reported net income totaled a loss of 6.7 million taka, or a loss of 89 poisha per share, compared to a loss of 7.9 million taka, or a loss of 1.05 taka per share, in the prior-year period.

As of Feb. 2, US$1 was equivalent to 78.42 taka.