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Meghna Condensed Milk Industries fiscal Q3 loss widens 6.6% YOY

Meghna Condensed Milk Industries Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 77 poisha per share, compared with a loss of 72 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 a loss of 12.3 million taka, compared with a loss of 11.5 million taka in the prior-year period.

The normalized profit margin declined to negative 21.2% from negative 19.2% in the year-earlier period.

Total revenue fell year over year to 58.0 million taka from 60.1 million taka, and total operating expenses decreased on an annual basis to 58.4 million taka from 61.2 million taka.

Reported net income totaled a loss of 19.9 million taka, or a loss of 1.24 taka per share, compared to a loss of 18.6 million taka, or a loss of 1.17 taka per share, in the year-earlier period.

As of April 25, US$1 was equivalent to 78.33 taka.