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Tallu Spinning Mills fiscal Q3 profit falls YOY

Tallu Spinning Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 5 poisha per share, a decline of 49.0% from 10 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 4.5 million taka, a decrease of 49.3% from 9.0 million taka in the year-earlier period.

The normalized profit margin declined to 1.3% from 2.4% in the year-earlier period.

Total revenue decreased 8.1% year over year to 341.3 million taka from 371.3 million taka, and total operating expenses fell 7.9% year over year to 290.9 million taka from 315.9 million taka.

Reported net income decreased 40.4% from the prior-year period to 7.3 million taka, or 8 poisha per share, from 12.2 million taka, or 14 poisha per share.

As of April 29, US$1 was equivalent to 77.94 taka.