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Alltex Industries swings to loss in fiscal Q4

4916114 said its normalized net income for the fiscal fourth quarter ended June 30 came to a loss of 3 poisha per share, compared with 2.09 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 a loss of 1.9 million taka, compared with income of 117.6 million taka in the prior-year period.

The normalized profit margin dropped to negative 0.9% from 34.7% in the year-earlier period.

Total revenue declined 35.2% on an annual basis to 219.3 million taka from 338.4 million taka, and total operating expenses declined 30.0% year over year to 210.1 million taka from 300.0 million taka.

Reported net income came to a loss of 10.6 million taka, or a loss of 19 poisha per share, compared to income of 167.5 million taka, or 2.98 taka per share, in the prior-year period.

For the year, the company's normalized net income totaled 85 poisha per share, a decline of 47.2% from 1.60 taka per share in the prior year.

Normalized net income was 47.4 million taka, a decline of 47.3% from 89.8 million taka in the prior year.

Full-year total revenue declined 31.9% year over year to 1.52 billion taka from 2.24 billion taka, and total operating expenses decreased 32.0% year over year to 1.39 billion taka from 2.05 billion taka.

The company said reported net income fell 47.5% year over year to 64.4 million taka, or 1.15 taka per share, in the full year, from 122.7 million taka, or 2.19 taka per share.

s of Nov. 25, US$1 was equivalent to 77.32 taka.Alltex Industries Ltd.

4916114 said its normalized net income for the fiscal fourth quarter ended June 30 came to a loss of 3 poisha per share, compared with 2.09 taka per share in the year-earlier period.