October 23 (SeeNews) - Bosnian oil refinery Modrica [BANJ:RFUM-R-A] said its net profit dropped to 2.3 million marka ($1.3 million/1.2 million euro) in the first nine months of 2018, from 2.4 million marka in the like period of last year.
Operating income fell 7.5% on the year to 18.3 million marka in the nine months through September, while operating costs went down 7% to 16.1 million marka, Modrica said in an interim financial statement filed with the Banja Luka Stock Exchange on Monday.
Rafinerija Ulja Modrica produces motor and industrial oils, lubricants and paraffin.
Russian state-owned oil firm Zarubezhneft, via its subsidiary Neftegazinkor, owns 75.65% of Modrica. The remaining shares are held by firms and private investment funds.
(1 euro = 1.95583 Bosnian marka)