April 30 (SeeNews) - Bulgarian car battery manufacturer Monbat [BUL:5MB] said that its consolidated profit before taxes soared 245.5% on the year to 7.3 million levs ($4.1 million/3.7 million euro) in the first quarter of 2019.
The company’s consolidated net sales revenue increased by 23.8% year-on-year to 83.5 million levs in the in the period under review, Monbat said in an interim financial statement last week.
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Monbat’s earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by an annual 63.9% to 11.8 million levs in the first three months of 2019.
In March alone, Monbat generated a pre-tax profit of 3.3 million levs, 346.7% higher compared to the same month of 2018. Net sales revenue rose by 10.6% to 26 million levs, whereas EBITDA increased by 69.2% to 4.6 million levs in March.
Monbat's consolidated net profit shrank to 2.8 million levs last year from 31.2 million levs in 2017 due to a drop in revenue by 9.5% to 298.1 million levs.
(1 euro = 1.95583 levs)