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Desh Garments fiscal Q3 profit climbs 44.1% YOY

Desh Garments Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 7 poisha per share, an increase of 46.2% from 5 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 441,250 taka, an increase of 44.1% from 306,250 taka in the prior-year period.

The normalized profit margin climbed to 0.6% from 0.5% in the year-earlier period.

Total revenue increased on an annual basis to 70.4 million taka from 67.7 million taka, and total operating expenses increased from the prior-year period to 69.7 million taka from 67.2 million taka.

Reported net income rose 44.0% year over year to 635,000 taka, or 11 poisha per share, from 441,000 taka, or 7 poisha per share.

As of May 6, US$1 was equivalent to 77.78 taka.