National Feed Mill Ltd. said its normalized net income for the first quarter amounted to 17 poisha per share, a decline of 13.4% from 20 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 14.0 million taka, a gain of 24.8% from 11.2 million taka in the year-earlier period.

The normalized profit margin climbed to 3.6% from 3.0% in the year-earlier period.

Total revenue grew year over year to 392.6 million taka from 378.8 million taka, and total operating expenses grew from the prior-year period to 356.0 million taka from 343.6 million taka.

Reported net income grew 13.5% from the prior-year period to 21.4 million taka, or 27 poisha per share, from 18.8 million taka, or 34 poisha per share.

As of May 14, US$1 was equivalent to 77.90 taka.