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Meghna Pet Industries fiscal Q3 loss narrows YOY

Meghna PET Industries Ltd said its normalized net income for the fiscal third quarter ended March 31 was a loss of 6 poisha per share, compared with a loss of 11 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 a loss of 773,640 taka, compared with a loss of 1.4 million taka in the year-earlier period.

Total revenue decreased 42.3% on an annual basis to 113,750 taka from 197,220 taka, and total operating expenses fell 43.3% year over year to 1.4 million taka from 2.4 million taka.

Reported net income totaled a loss of 1.2 million taka, or a loss of 10 poisha per share, compared to a loss of 2.2 million taka, or a loss of 18 poisha per share, in the prior-year period.

As of April 26, US$1 was equivalent to 78.37 taka.