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Paramount Textile fiscal Q2 profit falls YOY

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Paramount Textile fiscal Q2 profit falls YOY

Paramount Textile Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 30 poisha per share, a decrease 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 38.9 million taka, a decline from 40.2 million taka in the year-earlier period.

The normalized profit margin rose to 5.3% from 5.3% in the year-earlier period.

Total revenue decreased on an annual basis to 731.2 million taka from 757.4 million taka, and total operating expenses fell year over year to 647.4 million taka from 654.6 million taka.

Reported net income fell year over year to 53.5 million taka, or 42 poisha per share, from 54.4 million taka, or 42 poisha per share.

As of Jan. 29, US$1 was equivalent to 78.42 taka.