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Atlas Bangladesh fiscal Q1 profit falls YOY

Atlas Bangladesh Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 4 poisha per share, a decline of 95.7% from 91 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 1.1 million taka, a decline of 95.7% from 25.3 million taka in the prior-year period.

The normalized profit margin increased to 10.8% from 3.2% in the year-earlier period.

Total revenue declined 98.7% year over year to 10.2 million taka from 796.9 million taka, and total operating expenses fell 95.7% from the prior-year period to 32.7 million taka from 758.9 million taka.

Reported net income fell 95.3% year over year to 1.3 million taka, or 5 poisha per share, from 28.2 million taka, or 1.02 taka per share.

As of Oct. 15, US$1 was equivalent to 77.38 taka.