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Tosrifa Industries Q3 profit falls YOY

Tosrifa Industries Ltd. said its third-quarter normalized net income came to 32 poisha per share, a decrease of 61.3% from 82 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 20.0 million taka, a decline of 33.7% from 30.1 million taka in the prior-year period.

The normalized profit margin declined to 4.7% from 6.7% in the year-earlier period.

Total revenue decreased 6.4% on an annual basis to 422.9 million taka from 451.9 million taka, and total operating expenses totaled 397.6 million taka, compared with 398.5 million taka in the prior-year period.

Reported net income fell 33.7% from the prior-year period to 23.4 million taka, or 37 poisha per share, from 35.2 million taka, or 95 poisha per share.

As of Nov. 18, US$1 was equivalent to 77.46 taka.