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Novita Q1 profit climbs 76.3% YOY

Novita SA said its normalized net income for the first quarter came to 1.34 zlotys per share, a gain of 76.3% from 76 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 3.3 million zlotys, an increase of 76.3% from 1.9 million zlotys in the year-earlier period.

The normalized profit margin rose to 14.7% from 9.2% in the year-earlier period.

Total revenue climbed 10.7% on an annual basis to 22.7 million zlotys from 20.5 million zlotys, and total operating expenses came to 17.3 million zlotys, compared with 17.4 million zlotys in the prior-year period.

Reported net income increased 87.1% from the prior-year period to 4.3 million zlotys, or 1.73 zlotys per share, from 2.3 million zlotys, or 92 groszy per share.

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