May 30 (SeeNews) - Bulgarian car battery manufacturer Monbat [BUL:5MB] said that its consolidated net profit fell to 1.6 million levs ($950,300/818,100 euro) in the first quarter of 2018 from 8.9 million levs in the same period of last year, on the back of a serious drop in revenue.
Monbat's total operating revenue declined to 67.0 million levs in the first three months of 2018 from 79.0 million levs in the corresponding period of 2017, the company said in an interim financial statement.
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The company's operating expenses decreased to 65.1 million levs in the review period from 68.8 million levs the year before.
(1 euro = 1.95583 levs)