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Hamid Fabrics fiscal Q1 profit climbs 30.4% YOY

Hamid Fabrics Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 85 poisha per share, an increase of 30.4% from 65 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 47.7 million taka, an increase of 30.4% from 36.6 million taka in the prior-year period.

The normalized profit margin climbed to 8.5% from 6.5% in the year-earlier period.

Total revenue came to 563.8 million taka, compared with 559.5 million taka in the prior-year period, and total operating expenses totaled 447.1 million taka, compared with 444.8 million taka in the prior-year period.

Reported net income declined from the prior-year period to 61.5 million taka, or 1.09 taka per share, from 63.9 million taka, or 1.13 taka per share.

As of Nov. 17, US$1 was equivalent to 77.31 taka.