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Unique Hotel & Resorts Q1 profit falls YOY

Unique Hotel & Resorts Ltd. said its first-quarter normalized net income came to 60 poisha per share, a decrease from 62 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 177.1 million taka, a decline from 181.3 million taka in the year-earlier period.

The normalized profit margin climbed to 35.5% from 34.5% in the year-earlier period.

Total revenue declined 5.0% on an annual basis to 499.0 million taka from 525.0 million taka, and total operating expenses fell 10.5% on an annual basis to 266.6 million taka from 297.9 million taka.

Reported net income rose 8.2% on an annual basis to 225.1 million taka, or 76 poisha per share, from 208.1 million taka, or 71 poisha per share.

As of May 14, US$1 was equivalent to 77.90 taka.