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Meghna Pet Industries fiscal Q3 loss narrows YOY

Meghna PET Industries Ltd said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 11 poisha per share, compared with a loss of 22 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 1.4 million taka, compared with a loss of 2.7 million taka in the year-earlier period.

Total revenue grew 39.5% on an annual basis to 197,220 taka from 141,380 taka, and total operating expenses declined 45.7% from the prior-year period to 2.4 million taka from 4.4 million taka.

Reported net income came to a loss of 2.2 million taka, or a loss of 18 poisha per share, compared to a loss of 4.2 million taka, or a loss of 35 poisha per share, in the prior-year period.

As of May 7, US$1 was equivalent to 77.89 taka.