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Bangas fiscal Q3 profit climbs 76.9% YOY

Bangas Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 1.37 taka per share, a gain of 77.2% from 77 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 8.6 million taka, an increase of 76.9% from 4.9 million taka in the prior-year period.

The normalized profit margin climbed to 21.3% from 14.7% in the year-earlier period.

Total revenue rose 21.5% on an annual basis to 40.5 million taka from 33.3 million taka, and total operating expenses grew year over year to 26.2 million taka from 25.3 million taka.

Reported net income grew 70.0% from the prior-year period to 9.6 million taka, or 1.53 taka per share, from 5.7 million taka, or 90 poisha per share.

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