Meghna Condensed Milk Industries Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to a loss of 70 poisha per share, compared with a loss of 70 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 a loss of 11.2 million taka, compared with a loss of 11.2 million taka in the year-earlier period.
The normalized profit margin dropped to negative 22.4% from negative 18.5% in the year-earlier period.
Total revenue declined 17.4% year over year to 50.2 million taka from 60.7 million taka, and total operating expenses fell 15.4% from the prior-year period to 51.7 million taka from 61.1 million taka.
Reported net income came to a loss of 18.1 million taka, or a loss of 1.13 taka per share, compared to a loss of 18.3 million taka, or a loss of 1.14 taka per share, in the year-earlier period.
As of Jan. 23, US$1 was equivalent to 78.26 taka.
