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Golden Son Ltd. Q1 profit falls YOY

Golden Son Ltd. said its first-quarter normalized net income was 19 poisha per share, a decline of 69.2% from 61 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 32.2 million taka, a decrease of 69.2% from 104.5 million taka in the prior-year period.

The normalized profit margin climbed to 17.5% from 16.9% in the year-earlier period.

Total revenue decreased 70.3% year over year to 183.8 million taka from 619.0 million taka, and total operating expenses declined 67.9% year over year to 144.6 million taka from 450.3 million taka.

Reported net income fell 71.0% from the prior-year period to 45.2 million taka, or 26 poisha per share, from 155.8 million taka, or 91 poisha per share.

As of May 19, US$1 was equivalent to 77.78 taka.