Bangladesh Autocars Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 23 poisha per share, an increase from 6 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 873,860 taka, an increase from 216,320 taka in the prior-year period.

The normalized profit margin increased to 3.7% from 1.0% in the year-earlier period.

Total revenue increased 11.7% on an annual basis to 23.4 million taka from 21.0 million taka, and total operating expenses increased 10.0% on an annual basis to 21.3 million taka from 19.3 million taka.

Reported net income increased year over year to 1.0 million taka, or 26 poisha per share, from 171,010 taka, or 5 poisha per share.

As of Nov. 27, US$1 was equivalent to 77.36 taka.