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Master of Risk | Episode 3: Live from the Global Credit & Risk Symposium swings to profit in Q3 S.A. said its normalized net income for the third quarter was 11 groszy per share, compared with a loss of 8 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.5 million zlotys, compared with a loss of 1.1 million zlotys in the year-earlier period.

The normalized profit margin increased to 1.7% from negative 1.7% in the year-earlier period.

Total revenue grew 21.3% on an annual basis to 81.8 million zlotys from 67.4 million zlotys, and total operating expenses climbed 18.0% on an annual basis to 81.4 million zlotys from 69.0 million zlotys.

Reported net income came to a loss of 4.9 million zlotys, or a loss of 35 groszy per share, compared to a loss of 2.0 million zlotys, or a loss of 14 groszy per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to 3.97 zlotys.