Voztelecom Oigaa360 S.A. said its first-quarter normalized net income was a loss of €89,490, compared with a loss of €13,240 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to negative 3.8% from negative 0.5% in the year-earlier period.
Total revenue fell on an annual basis to €2.4 million from €2.4 million, and total operating expenses rose from the prior-year period to €2.5 million from €2.4 million.
Reported net income totaled a loss of €142,750, or a loss of 4 cents per share, compared to a loss of €21,190 in the prior-year period.