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Alhaj Textile Mills fiscal Q3 profit climbs 67.3% YOY

Alhaj Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 31 poisha per share, a gain of 67.3% from 19 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 6.3 million taka, a gain of 67.3% from 3.8 million taka in the prior-year period.

The normalized profit margin rose to 9.8% from 5.7% in the year-earlier period.

Total revenue decreased year over year to 64.3 million taka from 65.7 million taka, and total operating expenses decreased 6.2% year over year to 58.7 million taka from 62.6 million taka.

Reported net income increased 65.0% from the prior-year period to 7.7 million taka, or 38 poisha per share, from 4.7 million taka, or 23 poisha per share.

As of April 28, US$1 was equivalent to 78.34 taka.