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Olympic Industries fiscal Q1 profit climbs 42.5% YOY

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Olympic Industries fiscal Q1 profit climbs 42.5% YOY

Olympic Industries Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 1.47 taka per share, an increase of 42.5% from 1.03 taka per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 292.9 million taka, an increase of 42.5% from 205.6 million taka in the year-earlier period.

The normalized profit margin rose to 10.7% from 10.1% in the year-earlier period.

Total revenue grew 34.5% on an annual basis to 2.74 billion taka from 2.04 billion taka, and total operating expenses increased 33.3% on an annual basis to 2.30 billion taka from 1.72 billion taka.

Reported net income grew 45.9% from the prior-year period to 344.0 million taka, or 1.72 taka per share, from 235.7 million taka, or 1.18 taka per share.

As of Nov. 12, US$1 was equivalent to 78.06 taka.