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Alltex Industries swings to profit in fiscal Q3

Alltex Industries Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 19 poisha per share, compared with a loss of 21 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 10.5 million taka, compared with a loss of 11.5 million taka in the prior-year period.

The normalized profit margin climbed to 3.0% from negative 1.9% in the year-earlier period.

Total revenue fell 42.4% on an annual basis to 353.1 million taka from 613.1 million taka, and total operating expenses declined 43.3% on an annual basis to 320.9 million taka from 565.6 million taka.

Reported net income totaled 15.7 million taka, or 28 poisha per share, compared to a loss of 18.9 million taka, or a loss of 34 poisha per share, in the prior-year period.

As of April 30, US$1 was equivalent to 77.92 taka.