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Bangladesh Autocars fiscal Q3 profit climbs 30.6% YOY

Bangladesh Autocars Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 8 poisha per share, an increase of 47.6% from 5 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 311,950 taka, an increase of 30.6% from 238,790 taka in the year-earlier period.

The normalized profit margin increased to 2.0% from 1.2% in the year-earlier period.

Total revenue fell 20.5% on an annual basis to 16.0 million taka from 20.1 million taka, and total operating expenses declined 17.5% year over year to 15.0 million taka from 18.2 million taka.

Reported net income rose 54.9% year over year to 270,460 taka, or 7 poisha per share, from 174,580 taka, or 4 poisha per share.

As of May 8, US$1 was equivalent to 77.82 taka.