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SC Boromir Prod Q3 profit climbs YOY

S.C. Boromir Prod SA said its normalized net income for the third quarter came to 394,350 lei, a rise from 173,350 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 2.6% from 0.9% in the year-earlier period.

Total revenue decreased 26.6% year over year to 15.0 million lei from 20.4 million lei, and total operating expenses declined 28.3% from the prior-year period to 14.3 million lei from 20.0 million lei.

Reported net income increased from the prior-year period to 630,950 lei, or 0 bani per share, from 157,540 lei, or 0 bani per share.

As of Nov. 16, US$1 was equivalent to 4.14 Romanian lei.