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Alltex Industries swings to profit in fiscal Q2

Alltex Industries Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 13 poisha per share, compared with a loss of 8 poisha per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.3 million taka, compared with a loss of 4.5 million taka in the prior-year period.

The normalized profit margin rose to 2.2% from negative 0.7% in the year-earlier period.

Total revenue declined 52.4% on an annual basis to 325.7 million taka from 684.0 million taka, and total operating expenses fell 52.5% from the prior-year period to 298.2 million taka from 627.2 million taka.

Reported net income totaled 10.4 million taka, or 19 poisha per share, compared to a loss of 7.3 million taka, or a loss of 13 poisha per share, in the prior-year period.

As of Jan. 27, US$1 was equivalent to 77.71 taka.