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Aftab Automobiles fiscal Q3 profit climbs 89.0% YOY

Aftab Automobiles Ltd. said its normalized net income for the fiscal third quarter ended May 31 came to 58 poisha per share, an increase of 89.8% from 31 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 55.9 million taka, an increase of 89.0% from 29.6 million taka in the prior-year period.

The normalized profit margin increased to 6.1% from 3.7% in the year-earlier period.

Total revenue grew 14.4% on an annual basis to 923.5 million taka from 807.1 million taka, and total operating expenses increased 10.4% from the prior-year period to 791.4 million taka from 716.7 million taka.

Reported net income rose 53.0% from the prior-year period to 60.8 million taka, or 63 poisha per share, from 39.7 million taka, or 41 poisha per share.

As of June 29, US$1 was equivalent to 77.85 taka.