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Neptis Q1 profit climbs 83.4% YOY

Neptis Spólka Akcyjna said its first-quarter normalized net income was 48,430 zlotys, a gain of 83.4% from 26,400 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 climbed to 1.7% from 1.3% in the year-earlier period.

Total revenue climbed 34.4% on an annual basis to 2.8 million zlotys from 2.1 million zlotys, and total operating expenses increased 33.4% year over year to 2.7 million zlotys from 2.0 million zlotys.

Reported net income came to 71,600 zlotys, compared with 43,230 zlotys in the year-earlier period.

As of May 12, US$1 was equivalent to 3.87 zlotys.