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Emerald Oil fiscal Q3 profit climbs YOY

Emerald Oil Industries Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 26.9 million taka, a rise from 12.1 million taka in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 6.2% from 3.5% in the year-earlier period.

Total revenue increased 24.8% on an annual basis to 430.8 million taka from 345.1 million taka, and total operating expenses rose 19.2% from the prior-year period to 352.3 million taka from 295.5 million taka.

Reported net income rose 6.9% on an annual basis to 35.5 million taka, or 60 poisha per share, from 33.2 million taka.

As of April 15, US$1 was equivalent to 77.75 taka.