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Netanel Group Q3 loss widens YOY

Netanel Group Ltd. said its normalized net income for the third quarter amounted to a loss of 15 agorot per share, compared with a loss of 15 agorot per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.2 million shekels, compared with a loss of 3.2 million shekels in the prior-year period.

Total revenue fell 98.9% year over year to 15,000 shekels from 1.4 million shekels, and total operating expenses decreased 26.8% year over year to 2.9 million shekels from 3.9 million shekels.

Reported net income came to a loss of 3.8 million shekels, or a loss of 18 agorot per share, compared to a loss of 3.7 million shekels, or a loss of 18 agorot per share, in the prior-year period.

As of Nov. 29, US$1 was equivalent to 3.84 shekels.