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Marico Bangladesh fiscal Q2 profit falls YOY

Marico Bangladesh Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 10.55 taka per share, a decrease from 10.84 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 332.2 million taka, a decrease from 341.3 million taka in the year-earlier period.

The normalized profit margin rose to 17.1% from 16.1% in the year-earlier period.

Total revenue decreased 8.5% year over year to 1.94 billion taka from 2.13 billion taka, and total operating expenses fell 10.3% on an annual basis to 1.45 billion taka from 1.61 billion taka.

Reported net income totaled 401.3 million taka, or 12.74 taka per share, compared to 401.2 million taka, or 12.74 taka per share, in the prior-year period.

As of Oct. 19, US$1 was equivalent to 77.74 taka.