Matin Spinning Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 90 poisha per share, a gain of 8.6% from 83 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 87.6 million taka, a gain of 67.0% from 52.5 million taka in the prior-year period.
The normalized profit margin climbed to 16.0% from 9.6% in the year-earlier period.
Total revenue totaled 546.0 million taka, compared with 545.4 million taka in the prior-year period, and total operating expenses fell on an annual basis to 460.1 million taka from 467.1 million taka.
Reported net income grew 61.0% year over year to 107.1 million taka, or 1.10 taka per share, from 66.5 million taka, or 1.05 taka per share.
As of Oct. 15, US$1 was equivalent to 77.38 taka.
