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Peninsula Chittagong fiscal Q1 profit climbs YOY

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Peninsula Chittagong fiscal Q1 profit climbs YOY

Peninsula Chittagong Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 32 poisha per share, an increase from 31 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 37.2 million taka, a gain from 36.8 million taka in the prior-year period.

The normalized profit margin rose to 47.1% from 41.4% in the year-earlier period.

Total revenue declined 11.0% on an annual basis to 79.1 million taka from 88.8 million taka, and total operating expenses declined 11.4% on an annual basis to 51.4 million taka from 58.0 million taka.

Reported net income increased year over year to 44.7 million taka, or 38 poisha per share, from 42.6 million taka, or 36 poisha per share.

As of Nov. 10, US$1 was equivalent to 78.14 taka.