Petrol d.d. said its first-quarter normalized net income came to €4.98 per share, a gain from €4.90 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €10.3 million, a gain from €10.1 million in the prior-year period.

The normalized profit margin increased to 1.8% from 1.6% in the year-earlier period.

Total revenue fell 13.8% year over year to €559.4 million from €649.4 million, and total operating expenses declined 14.5% on an annual basis to €538.8 million from €630.3 million.

Reported net income grew on an annual basis to €13.9 million, or €6.77 per share, from €13.4 million, or €6.49 per share.