Akcionarsko drustvo Tigar Pirot said its first-quarter normalized net income came to a loss of 67.4 million dinars, compared with a loss of 159.1 million dinars in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to negative 9.7% from negative 28.4% in the year-earlier period.
Total revenue rose 24.0% on an annual basis to 695.7 million dinars from 561.1 million dinars, and total operating expenses increased year over year to 670.2 million dinars from 644.5 million dinars.
Reported net income came to a loss of 110.9 million dinars, or a loss of 64.56 dinars per share, compared to a loss of 255.0 million dinars in the year-earlier period.
As of May 13, US$1 was equivalent to 106.09 Serbian dinars.
