Alhaj Textile Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 17 poisha per share, a decrease of 32.8% from 26 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 3.5 million taka, a decline of 32.8% from 5.2 million taka in the year-earlier period.
The normalized profit margin declined to 6.4% from 7.5% in the year-earlier period.
Total revenue declined 22.0% on an annual basis to 54.1 million taka from 69.4 million taka, and total operating expenses decreased 16.8% year over year to 51.9 million taka from 62.3 million taka.
Reported net income decreased 52.1% year over year to 3.9 million taka, or 19 poisha per share, from 8.2 million taka, or 41 poisha per share.
As of Nov. 14, US$1 was equivalent to 77.31 taka.
