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Peninsula Chittagong fiscal Q2 profit falls YOY

Peninsula Chittagong Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 28 poisha per share, a decrease from 29 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 33.5 million taka, a decline from 34.6 million taka in the prior-year period.

The normalized profit margin climbed to 41.8% from 34.7% in the year-earlier period.

Total revenue declined 19.7% on an annual basis to 80.1 million taka from 99.7 million taka, and total operating expenses fell 24.8% year over year to 55.1 million taka from 73.2 million taka.

Reported net income came to 40.2 million taka, or 34 poisha per share, compared to 40.2 million taka, or 33 poisha per share, in the year-earlier period.

As of Jan. 29, US$1 was equivalent to 78.42 taka.