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Familytex Q1 profit falls YOY

Familytex (BD) Ltd. said its first-quarter normalized net income amounted to 42 poisha per share, a decrease of 29.9% from 60 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 140.3 million taka, a decrease of 30.2% from 200.9 million taka in the year-earlier period.

The normalized profit margin dropped to 17.4% from 20.7% in the year-earlier period.

Total revenue declined 16.8% year over year to 805.4 million taka from 968.1 million taka, and total operating expenses decreased 10.1% year over year to 581.4 million taka from 647.0 million taka.

Reported net income fell 30.2% from the prior-year period to 224.4 million taka, or 67 poisha per share, from 321.4 million taka, or 95 poisha per share.

As of April 15, US$1 was equivalent to 77.75 taka.