November 2 (SeeNews) - Croatian electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI-R-A] said the consolidated net profit of Koncar Group almost tripled year-on-year in the first nine months of 2020, reaching 49.2 million kuna ($7.6 million/6.5 million euro).
The group's nine-month operating revenue more than doubled year-on-year to 2.1 billion kuna, growing by the same rate as the sales revenue, which increased to 2.05 billion kuna, Koncar said in filing to the Zagreb Stock Exchange (ZSE) on Friday.
The group's operating expenses more than doubled year-on-year in the review period, hitting 2.06 billion kuna.
Of the 15 companies within the Koncar Group, 13 booked profits in January-September 2020, while two suffered losses.
Koncar's revenues from the sale of products and services on the domestic market rose by 2.9% on the year to 273.4 million kuna in the January-September period, while sales on foreign markets increased by 19% to 1.3 billion kuna.
Shares of Koncar Elektroindustrija, the leading company within Koncar Group, traded flat at 585 kuna on the ZSE by 1419 CET on Monday.
(1 euro = 7.57082 kuna)