Bulgaria's Tchaikapharma Q1 non-cons net profit shrinks 24% y/y

The company’s operating revenue went down to 13.37 million levs in January-March from 13.67 million levs a year earlier, Tchaikapharma said in an interim financial statement on Wednesday. Of that, 12.32 million levs were generated from product sales, up 7% on the year, while sales of goods halved to some 1 million levs.

Meanwhile, operating expenses slightly widened to 11.74 million levs in the review period from 11.59 million levs in the first three months of 2023, on the back of higher costs for hired services and remuneration.

At the end of March, Tchaikapharma employed 199 people, compared to 191 at the end of 2023, the statement added. The company has a portfolio of over 150 products.

Shares in Tchaikapharma last traded on Tuesday when they closed at 17.30 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)