Golden Harvest Agro Industries Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 29 poisha per share, a decrease of 11.4% from 32 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 31.3 million taka, a decline of 11.4% from 35.3 million taka in the year-earlier period.
The normalized profit margin dropped to 16.0% from 20.8% in the year-earlier period.
Total revenue climbed 15.0% on an annual basis to 194.9 million taka from 169.5 million taka, and total operating expenses climbed 9.5% on an annual basis to 120.9 million taka from 110.5 million taka.
Reported net income fell 17.6% from the prior-year period to 34.3 million taka, or 31 poisha per share, from 41.6 million taka, or 38 poisha per share.
As of Oct. 15, US$1 was equivalent to 77.38 taka.
