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Alhaj Textile Mills fiscal Q2 profit climbs 94.6% YOY

Alhaj Textile Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 31 poisha per share, an increase of 94.6% from 16 poisha per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.3 million taka, an increase of 94.6% from 3.3 million taka in the prior-year period.

The normalized profit margin dropped to 6.1% from 9.9% in the year-earlier period.

Total revenue increased year over year to 104.5 million taka from 33.1 million taka, and total operating expenses increased year over year to 98.3 million taka from 32.0 million taka.

Reported net income rose on an annual basis to 7.8 million taka, or 38 poisha per share, from 3.6 million taka, or 18 poisha per share.

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