Alfa-Plam a.d. said its normalized net income for the first quarter was 97.88 Serbian dinars per share, a decline of 78.5% from 455.82 dinars per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.4 million dinars, a decline of 68.6% from 49.0 million dinars in the year-earlier period.
The normalized profit margin dropped to 2.0% from 7.4% in the year-earlier period.
Total revenue increased 14.4% year over year to 762.6 million dinars from 666.4 million dinars, and total operating expenses increased 27.1% from the prior-year period to 759.8 million dinars from 597.9 million dinars.
Reported net income decreased 77.3% from the prior-year period to 24.5 million dinars, or 155.47 dinars per share, from 107.5 million dinars, or 1,000.00 dinars per share.
As of May 16, US$1 was equivalent to 108.21 Serbian dinars.