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Delta Spinners fiscal Q1 profit falls YOY

Delta Spinners Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 10 poisha per share, a decline of 20.4% from 12 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 10.3 million taka, a decrease of 12.7% from 11.8 million taka in the prior-year period.

The normalized profit margin dropped to 2.7% from 2.9% in the year-earlier period.

Total revenue fell 6.1% year over year to 384.4 million taka from 409.5 million taka, and total operating expenses fell 6.8% from the prior-year period to 342.4 million taka from 367.3 million taka.

Reported net income fell on an annual basis to 13.0 million taka, or 12 poisha per share, from 13.4 million taka, or 14 poisha per share.

As of Nov. 14, US$1 was equivalent to 77.31 taka.