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Alltex Industries swings to profit in fiscal Q1

Alltex Industries Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 56 poisha per share, compared with a loss of 21 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 31.5 million taka, compared with a loss of 11.7 million taka in the prior-year period.

The normalized profit margin climbed to 5.0% from negative 2.0% in the year-earlier period.

Total revenue rose on an annual basis to 623.9 million taka from 600.4 million taka, and total operating expenses rose from the prior-year period to 572.7 million taka from 556.8 million taka.

Reported net income totaled 43.2 million taka, or 77 poisha per share, compared to a loss of 18.9 million taka, or a loss of 34 poisha per share, in the year-earlier period.

As of Dec. 15, US$1 was equivalent to 77.29 taka.