S.C. Ves SA said its normalized net income for the first quarter amounted to 222,970 lei, compared with a loss of 1.1 million lei in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to 3.6% from negative 22.0% in the year-earlier period.
Total revenue climbed 19.3% year over year to 6.1 million lei from 5.1 million lei, and total operating expenses decreased 17.0% year over year to 5.7 million lei from 6.8 million lei.
Reported net income came to 356,750 lei, compared with a loss of 1.8 million lei in the year-earlier period.
As of May 14, US$1 was equivalent to 3.92 Romanian lei.
