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Qt Group Q1 profit falls YOY

Qt Group Oyj said its first-quarter normalized net income came to €107,190, a decline of 48.1% from €206,500 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 1.5% from 3.3% in the year-earlier period.

Total revenue increased 14.3% year over year to €7.1 million from €6.3 million, and total operating expenses grew 18.4% year over year to €6.9 million from €5.8 million.

Reported net income totaled €129,100, compared with €221,700 in the year-earlier period.