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Marico Bangladesh fiscal Q3 profit falls YOY

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Marico Bangladesh fiscal Q3 profit falls YOY

Marico Bangladesh Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 7.65 taka per share, a decline of 18.2% from 9.35 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 240.9 million taka, a decrease of 18.2% from 294.4 million taka in the prior-year period.

The normalized profit margin dropped to 15.3% from 21.7% in the year-earlier period.

Total revenue climbed 15.9% year over year to 1.57 billion taka from 1.35 billion taka, and total operating expenses increased 24.8% from the prior-year period to 1.20 billion taka from 961.7 million taka.

Reported net income declined 18.4% on an annual basis to 283.1 million taka, or 8.99 taka per share, from 346.8 million taka, or 11.01 taka per share.

As of Feb. 3, US$1 was equivalent to 77.73 taka.