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Kohinoor Chemical fiscal Q3 profit falls YOY

Kohinoor Chemical Co. (Bangladesh) Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 76 poisha per share, a decline of 51.8% from 1.59 taka per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.7 million taka, a decrease of 51.8% from 22.2 million taka in the prior-year period.

The normalized profit margin declined to 1.5% from 3.4% in the year-earlier period.

Total revenue increased 14.0% year over year to 735.4 million taka from 645.1 million taka, and total operating expenses climbed 18.2% on an annual basis to 710.3 million taka from 600.7 million taka.

Reported net income declined 53.7% from the prior-year period to 11.6 million taka, or 83 poisha per share, from 25.1 million taka, or 1.79 taka per share.

As of April 27, US$1 was equivalent to 77.86 taka.