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Kay & Que Q2 loss narrows YOY

Kay & Que (Bangladesh) Ltd. said its second-quarter normalized net income was a loss of 18 poisha per share, compared with a loss of 21 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 a loss of 883,750 taka, compared with a loss of 1.0 million taka in the year-earlier period.

The normalized profit margin increased to negative 3.4% from negative 3.5% in the year-earlier period.

Total revenue decreased 11.8% year over year to 26.3 million taka from 29.8 million taka, and total operating expenses fell 15.4% year over year to 26.6 million taka from 31.5 million taka.

Reported net income totaled a loss of 919,000 taka, or a loss of 19 poisha per share, compared to a loss of 1.8 million taka, or a loss of 37 poisha per share, in the year-earlier period.

As of July 15, US$1 was equivalent to 77.74 taka.