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Dacca Dyeing & Manufacturing fiscal Q2 profit falls YOY

Dacca Dyeing & Manufacturing Co. Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 13 poisha per share, a decrease of 67.2% from 39 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 10.6 million taka, a decrease of 68.2% from 33.3 million taka in the year-earlier period.

The normalized profit margin fell to 6.6% from 10.8% in the year-earlier period.

Total revenue fell 48.4% year over year to 159.1 million taka from 308.4 million taka, and total operating expenses decreased 51.0% from the prior-year period to 92.5 million taka from 189.0 million taka.

Reported net income declined 68.2% from the prior-year period to 14.4 million taka, or 17 poisha per share, from 45.3 million taka, or 53 poisha per share.

As of March 6, US$1 was equivalent to 77.77 taka.