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Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet Q1 profit climbs YOY SpA said its normalized net income for the first quarter came to 25,630 zlotys, a rise from 10,630 zlotys in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 0.3% from 0.1% in the year-earlier period.

Total revenue increased 28.3% year over year to 9.3 million zlotys from 7.2 million zlotys, and total operating expenses rose 27.8% from the prior-year period to 9.2 million zlotys from 7.2 million zlotys.

Reported net income rose 61.5% from the prior-year period to 21,000 zlotys, or 0 groszy per share, from 13,000 zlotys, or 0 groszy per share.

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