Damf Inwestycje SA said its first-quarter normalized net income came to a loss of 328,990 zlotys, compared with a loss of 488,420 zlotys in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to negative 54.3% from negative 69.9% in the year-earlier period.
Total revenue declined 13.3% on an annual basis to 605,520 zlotys from 698,260 zlotys, and total operating expenses fell 23.1% from the prior-year period to 1.1 million zlotys from 1.5 million zlotys.
Reported net income came to a loss of 527,040 zlotys, or a loss of 1 groszy per share, compared to a loss of 780,450 zlotys, or a loss of 2 groszy per share, in the prior-year period.
As of May 14, US$1 was equivalent to 3.57 zlotys.
