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Alhaj Textile Mills fiscal Q3 profit falls YOY

Alhaj Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 19 poisha per share, a decrease of 13.8% from 22 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 3.8 million taka, a decline of 13.8% from 4.4 million taka in the prior-year period.

The normalized profit margin climbed to 5.7% from 4.8% in the year-earlier period.

Total revenue fell 28.0% year over year to 65.7 million taka from 91.2 million taka, and total operating expenses declined 26.7% on an annual basis to 62.6 million taka from 85.4 million taka.

Reported net income fell 21.3% on an annual basis to 4.7 million taka, or 23 poisha per share, from 6.0 million taka, or 29 poisha per share.

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