Alfa-Plam a.d. said its normalized net income for the third quarter amounted to 117.6 million dinars, a fall of 12.9% from 135.0 million dinars in the year-earlier period.

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

The normalized profit margin dropped to 7.8% from 8.5% in the year-earlier period.

Total revenue decreased 5.0% on an annual basis to 1.50 billion dinars from 1.58 billion dinars, and total operating expenses declined year over year to 1.32 billion dinars from 1.36 billion dinars.

Reported net income decreased 12.9% on an annual basis to 188.1 million dinars, or 1,195.50 dinars per share, from 216.0 million dinars.

As of Nov. 16, US$1 was equivalent to 115.17 Serbian dinars.