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Zeal Bangla Sugar Mills profit holds relatively steady YOY in fiscal Q3

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Zeal Bangla Sugar Mills profit holds relatively steady YOY in fiscal Q3

Zeal Bangla Sugar Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 6.55 taka per share, compared with a loss of 6.52 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 39.3 million taka, compared with a loss of 39.1 million taka in the year-earlier period.

The normalized profit margin fell to negative 47.5% from negative 38.9% in the year-earlier period.

Total revenue declined 17.6% year over year to 82.8 million taka from 100.5 million taka, and total operating expenses decreased 15.2% year over year to 121.0 million taka from 142.8 million taka.

Reported net income came to a loss of 62.9 million taka, or a loss of 10.48 taka per share, compared to a loss of 62.6 million taka, or a loss of 10.43 taka per share, in the year-earlier period.

As of April 15, US$1 was equivalent to 77.75 taka.