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Paramount Textile fiscal Q3 profit climbs 23.8% YOY

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Paramount Textile fiscal Q3 profit climbs 23.8% YOY

Paramount Textile Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 33 poisha per share, a gain of 22.8% from 27 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 42.3 million taka, an increase of 23.8% from 34.1 million taka in the year-earlier period.

The normalized profit margin climbed to 5.4% from 4.5% in the year-earlier period.

Total revenue increased year over year to 789.4 million taka from 756.5 million taka, and total operating expenses increased from the prior-year period to 692.8 million taka from 661.0 million taka.

Reported net income grew 21.5% year over year to 58.2 million taka, or 45 poisha per share, from 47.9 million taka, or 37 poisha per share.

As of May 18, US$1 was equivalent to 78.57 taka.