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Bangladesh Autocars fiscal Q3 profit climbs 24.0% YOY

Bangladesh Autocars Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 10 poisha per share, a gain of 33.8% from 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 386,920 taka, an increase of 24.0% from 311,950 taka in the year-earlier period.

The normalized profit margin fell to 1.9% from 2.0% in the year-earlier period.

Total revenue rose 24.8% year over year to 20.0 million taka from 16.0 million taka, and total operating expenses rose 26.3% on an annual basis to 19.0 million taka from 15.0 million taka.

Reported net income increased 58.8% from the prior-year period to 429,590 taka, or 11 poisha per share, from 270,460 taka, or 7 poisha per share.

As of May 31, US$1 was equivalent to 78.58 taka.