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Zahintex Industries fiscal Q3 profit climbs YOY

Zahintex Industries Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 34 poisha per share, an increase from 17 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 28.3 million taka, an increase from 13.8 million taka in the year-earlier period.

The normalized profit margin climbed to 6.7% from 3.0% in the year-earlier period.

Total revenue decreased 9.0% on an annual basis to 421.3 million taka from 463.0 million taka, and total operating expenses declined 16.2% year over year to 336.3 million taka from 401.1 million taka.

Reported net income grew on an annual basis to 43.9 million taka, or 54 poisha per share, from 18.5 million taka, or 22 poisha per share.

As of April 15, US$1 was equivalent to 77.75 taka.