May 30 (SeeNews) - Bosnian coal mining and energy company RiTE Gacko [BANJ:RITE-R-A] said on Tuesday it generated a net profit of 149,499 marka ($82,034/76,438 euro) in the first quarter of 2023, after recording a loss of 662,842 marka in the like period a year earlier.
Operating income increased by 15.9% on the year to 41.9 million marka in January-March, while operating costs came in at 41.6 million marka, up 12.8% year-on-year, RiTE Gacko said in a filing with the Banja Luka Stock Exchange.
RiTE Gacko is located in the southern part of the Serb Republic, one of Bosnia's two entities. The other one is the Federation.
The Gacko power plant is one of the two coal-fired power plants operating in the Serb Republic. The other plant is part of the Ugljevik coal mining and power generation company located in northeastern Bosnia.
The company's shares last traded on the BLSE on March 21, closing 20% higher at 0.036 marka.
(1 euro = 1.95583 marka)