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Shasha Denims Q2 profit falls YOY

Shasha Denims Ltd. said its second-quarter normalized net income was 94 poisha per share, a decrease of 8.1% from 1.02 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 112.7 million taka, a decline from 117.4 million taka in the prior-year period.

The normalized profit margin fell to 7.2% from 8.5% in the year-earlier period.

Total revenue grew 13.9% on an annual basis to 1.57 billion taka from 1.38 billion taka, and total operating expenses grew 17.2% from the prior-year period to 1.31 billion taka from 1.12 billion taka.

Reported net income decreased 5.7% on an annual basis to 154.1 million taka, or 1.29 taka per share, from 163.4 million taka, or 1.43 taka per share.

As of July 29, US$1 was equivalent to 78.47 taka.