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Dacca Dyeing & Manufacturing fiscal Q3 profit falls YOY

Dacca Dyeing & Manufacturing Co. Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 12 poisha per share, a decrease of 69.5% from 39 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 10.3 million taka, a decrease of 69.9% from 34.3 million taka in the year-earlier period.

The normalized profit margin fell to 6.9% from 18.0% in the year-earlier period.

Total revenue decreased 21.3% on an annual basis to 149.8 million taka from 190.4 million taka, and total operating expenses fell 28.6% on an annual basis to 83.7 million taka from 117.3 million taka.

Reported net income decreased 69.9% on an annual basis to 14.0 million taka, or 16 poisha per share, from 46.6 million taka, or 54 poisha per share.

As of May 8, US$1 was equivalent to 77.82 taka.