April 22 (SeeNews) - Bulgarian car battery manufacturer Elhim Iskra [BUL:ELHM] said on Thursday that it turned to a net profit of 377,000 levs ($232,000/193,000 euro) in the first quarter of 2021 from a net loss of 123,000 levs in the same period of 2020.
Elhim Iskra's revenue grew to 9.7 million levs in the January-March period of this year from 8.2 million levs in the comparable period of 2020, the company said in an interim financial statement.
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The battery maker's expenses increased to 9.3 million levs from 8.3 million levs, on the back of higher expenses for materials.
In a separate statement on Thursday, Elhim Iskra said that it expects to generate sales of 3.5 million levs in April.
Elhim Iskra is part of local blue-chip diversified group Stara Planina Hold [BUL:5SR]. The Pazardzhik-based company exports over 90% of its output.
(1 euro = 1.95583 levs)