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IFAD Autos fiscal Q3 profit climbs 54.5% YOY

IFAD Autos Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 78 poisha per share, a gain of 54.5% from 51 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 127.8 million taka, an increase of 54.5% from 82.7 million taka in the year-earlier period.

The normalized profit margin climbed to 8.4% from 6.6% in the year-earlier period.

Total revenue rose 20.3% on an annual basis to 1.52 billion taka from 1.26 billion taka, and total operating expenses grew 19.0% year over year to 1.33 billion taka from 1.12 billion taka.

Reported net income grew 43.0% year over year to 151.8 million taka, or 93 poisha per share, from 106.2 million taka, or 65 poisha per share.

As of May 2, US$1 was equivalent to 78.45 taka.