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National Tea Q2 profit climbs 52.3% YOY

National Tea Co. Ltd. said its normalized net income for the second quarter amounted to 3.86 taka per share, a gain of 50.4% from 2.57 taka per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.7 million taka, a gain of 52.3% from 16.9 million taka in the year-earlier period.

The normalized profit margin declined to 13.5% from 16.9% in the year-earlier period.

Total revenue rose 91.3% on an annual basis to 190.5 million taka from 99.6 million taka, and total operating expenses rose year over year to 140.5 million taka from 64.2 million taka.

Reported net income grew 54.0% on an annual basis to 41.4 million taka, or 6.22 taka per share, from 26.9 million taka, or 4.09 taka per share.

As of Aug. 7, US$1 was equivalent to 77.86 taka.