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Bangladesh Autocars fiscal Q1 profit climbs YOY

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.