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Rahim Textile Mills fiscal Q3 profit climbs 11.5% YOY

Rahim Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 75 poisha per share, an increase of 11.5% from 67 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 5.8 million taka, a gain of 11.5% from 5.2 million taka in the prior-year period.

The normalized profit margin climbed to 4.3% from 3.3% in the year-earlier period.

Total revenue decreased 12.2% on an annual basis to 137.4 million taka from 156.4 million taka, and total operating expenses fell 14.9% on an annual basis to 120.7 million taka from 141.8 million taka.

Reported net income increased 10.1% year over year to 7.8 million taka, or 1.00 taka per share, from 7.1 million taka, or 91 poisha per share.

As of May 1, US$1 was equivalent to 77.72 taka.