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Oponeo.pl Q3 loss narrows YOY

Oponeo.pl S.A. said its third-quarter normalized net income amounted to a loss of 8 groszy per share, compared with a loss of 11 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.1 million zlotys, compared with a loss of 1.5 million zlotys in the prior-year period.

The normalized profit margin increased to negative 1.7% from negative 2.8% in the year-earlier period.

Total revenue increased 28.6% year over year to 67.4 million zlotys from 52.4 million zlotys, and total operating expenses rose 25.9% year over year to 69.0 million zlotys from 54.8 million zlotys.

Reported net income came to a loss of 2.0 million zlotys, or a loss of 14 groszy per share, compared to a loss of 2.3 million zlotys, or a loss of 17 groszy per share, in the prior-year period.

As of Nov. 10, US$1 was equivalent to 3.96 zlotys.