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Dulamia Cotton Spinning Mills fiscal Q3 loss widens YOY

Dulamia Cotton Spinning Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 57 poisha per share, compared with a loss of 22 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 a loss of 4.3 million taka, compared with a loss of 1.6 million taka in the prior-year period.

The normalized profit margin dropped to negative 7.7% from negative 2.5% in the year-earlier period.

Total revenue declined 14.4% year over year to 56.4 million taka from 65.9 million taka, and total operating expenses decreased 8.0% year over year to 60.8 million taka from 66.1 million taka.

Reported net income came to a loss of 6.9 million taka, or a loss of 92 poisha per share, compared to a loss of 2.6 million taka, or a loss of 35 poisha per share, in the prior-year period.

As of May 4, US$1 was equivalent to 78.37 taka.