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Alltex Industries fiscal Q1 profit falls YOY

Alltex Industries Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 32 poisha per share, a decrease of 44.0% from 56 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 17.6 million taka, a decrease of 44.0% from 31.5 million taka in the year-earlier period.

The normalized profit margin declined to 4.5% from 5.0% in the year-earlier period.

Total revenue decreased 37.0% year over year to 393.2 million taka from 623.9 million taka, and total operating expenses decreased 38.4% year over year to 352.9 million taka from 572.7 million taka.

Reported net income fell 39.3% from the prior-year period to 26.2 million taka, or 47 poisha per share, from 43.2 million taka, or 77 poisha per share.

As of Oct. 30, US$1 was equivalent to 77.75 taka.