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Imam Button Industries fiscal Q3 loss narrows YOY

Imam Button Industries Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 4 poisha per share, compared with a loss of 11 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 a loss of 349,510 taka, compared with a loss of 829,820 taka in the prior-year period.

The normalized profit margin climbed to negative 2.4% from negative 7.8% in the year-earlier period.

Total revenue increased 38.9% year over year to 14.8 million taka from 10.7 million taka, and total operating expenses grew 31.0% from the prior-year period to 15.0 million taka from 11.5 million taka.

Reported net income totaled a loss of 559,220 taka, or a loss of 7 poisha per share, compared to a loss of 1.3 million taka, or a loss of 17 poisha per share, in the prior-year period.

As of April 28, US$1 was equivalent to 78.34 taka.