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Olympic Industries fiscal Q2 profit climbs 15.9% YOY

Olympic Industries Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 1.10 taka per share, a gain of 15.9% from 95 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 219.7 million taka, an increase of 15.9% from 189.6 million taka in the year-earlier period.

The normalized profit margin rose to 10.2% from 9.0% in the year-earlier period.

Total revenue increased year over year to 2.15 billion taka from 2.11 billion taka, and total operating expenses increased from the prior-year period to 1.88 billion taka from 1.87 billion taka.

Reported net income grew 13.5% on an annual basis to 250.0 million taka, or 1.25 taka per share, from 220.2 million taka, or 1.10 taka per share.

As of Jan. 30, US$1 was equivalent to 77.44 taka.