April 24 (SeeNews) - Bulgarian car battery manufacturer Elhim Iskra [BUL:52E] said on Wednesday that its net profit nearly tripled to 311,000 levs ($178,000/159,000 euro) in the first quarter of the year from 110,000 levs in the same period of 2018.
The company's total revenue edged down to 10.1 million levs in the January-March period of 2019 from 10.6 million levs in the corresponding period of last year, Elhim Iskra said in a bourse filing.
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Operating expenses dropped to 9.8 million levs in the review period from 10.5 million levs in the like period of 2018, mostly due to lower expenses for materials - 7.0 million levs in the first quarter of this year compared to 7.6 million levs a year earlier.
Elhim Iskra is part of blue-chip diversified group Stara Planina Hold [BUL:5SR].
The Pazardzhik-based company exports over 90% of its output.
(1 euro = 1.95583 levs)