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Dulamia Cotton Spinning Mills fiscal Q3 loss narrows YOY

Dulamia Cotton Spinning Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 22 poisha per share, compared with a loss of 68 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 a loss of 1.6 million taka, compared with a loss of 5.1 million taka in the prior-year period.

The normalized profit margin increased to negative 2.5% from negative 9.2% in the year-earlier period.

Total revenue increased 17.9% on an annual basis to 65.9 million taka from 55.9 million taka, and total operating expenses increased 6.0% year over year to 66.1 million taka from 62.3 million taka.

Reported net income came to a loss of 2.6 million taka, or a loss of 35 poisha per share, compared to a loss of 8.2 million taka, or a loss of 1.08 taka per share, in the year-earlier period.

As of April 15, US$1 was equivalent to 77.75 taka.