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Olympic Industries fiscal Q3 profit climbs 12.5% YOY

Olympic Industries Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 1.15 taka per share, a gain of 12.5% from 1.02 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 229.1 million taka, an increase of 12.5% from 203.7 million taka in the prior-year period.

The normalized profit margin declined to 9.7% from 10.5% in the year-earlier period.

Total revenue increased 21.5% year over year to 2.35 billion taka from 1.94 billion taka, and total operating expenses rose 23.3% from the prior-year period to 1.99 billion taka from 1.61 billion taka.

Reported net income increased 11.6% on an annual basis to 256.8 million taka, or 1.28 taka per share, from 230.0 million taka, or 1.15 taka per share.

As of April 30, US$1 was equivalent to 77.92 taka.