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Novita Q2 profit climbs 63.2% YOY

Novita SA said its second-quarter normalized net income was 1.48 zlotys per share, an increase of 63.2% from 90 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 3.7 million zlotys, a gain of 63.2% from 2.3 million zlotys in the year-earlier period.

The normalized profit margin rose to 15.8% from 11.8% in the year-earlier period.

Total revenue rose 22.3% year over year to 23.4 million zlotys from 19.1 million zlotys, and total operating expenses climbed 13.4% from the prior-year period to 17.5 million zlotys from 15.4 million zlotys.

Reported net income rose 63.9% from the prior-year period to 4.8 million zlotys, or 1.91 zlotys per share, from 2.9 million zlotys, or 1.16 zlotys per share.

As of Aug. 29, US$1 was equivalent to 3.89 zlotys.