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Delta Spinners fiscal Q3 profit falls YOY

Delta Spinners Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 10 poisha per share, a decrease of 77.3% from 43 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 16.5 million taka, a decline of 30.8% from 23.8 million taka in the year-earlier period.

The normalized profit margin increased to 5.7% from 5.3% in the year-earlier period.

Total revenue decreased 36.1% year over year to 289.4 million taka from 453.2 million taka, and total operating expenses declined 33.0% from the prior-year period to 257.6 million taka from 384.4 million taka.

Reported net income decreased 28.8% year over year to 19.7 million taka, or 12 poisha per share, from 27.6 million taka, or 50 poisha per share.

As of May 1, US$1 was equivalent to 77.72 taka.