Matin Spinning Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 88 poisha per share, a gain from 84 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 86.0 million taka, a gain from 82.4 million taka in the prior-year period.
The normalized profit margin climbed to 18.0% from 12.7% in the year-earlier period.
Total revenue decreased 26.6% on an annual basis to 477.1 million taka from 649.9 million taka, and total operating expenses fell 31.2% on an annual basis to 392.8 million taka from 570.8 million taka.
Reported net income grew 8.5% from the prior-year period to 106.1 million taka, or 1.09 taka per share, from 97.8 million taka, or 1 taka per share.
As of April 15, US$1 was equivalent to 77.75 taka.
