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Teliani Valley Polska Q1 profit climbs YOY

Teliani Valley Polska SA said its normalized net income for the first quarter came to 7 groszy per share, an increase from 2 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 373,060 zlotys, an increase from 92,500 zlotys in the year-earlier period.

The normalized profit margin climbed to 31.7% from 7.2% in the year-earlier period.

Total revenue fell 9.0% on an annual basis to 1.2 million zlotys from 1.3 million zlotys, and total operating expenses decreased 40.4% on an annual basis to 672,160 zlotys from 1.1 million zlotys.

Reported net income grew on an annual basis to 477,710 zlotys, or 8 groszy per share, from 116,270 zlotys, or 2 groszy per share.

As of May 15, US$1 was equivalent to 3.54 zlotys.