Hwa Well Textiles (BD) Ltd said its normalized net income for the fiscal third quarter ended March 31 came to 31 poisha per share, a decline of 57.1% from 72 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 17.4 million taka, a decrease of 36.7% from 27.5 million taka in the prior-year period.
The normalized profit margin rose to 7.0% from 6.5% in the year-earlier period.
Total revenue declined 40.8% year over year to 250.0 million taka from 422.0 million taka, and total operating expenses decreased 41.5% from the prior-year period to 226.8 million taka from 388.0 million taka.
Reported net income declined 39.1% year over year to 22.8 million taka, or 41 poisha per share, from 37.4 million taka, or 98 poisha per share.
As of May 1, US$1 was equivalent to 77.72 taka.
