Serbia's Fintel Energija Q1 cons net profit doubles

Fintel Energija [BEL:FINT], the Serbian subsidiary of Italy's Fintel Energia Group, said its consolidated net profit more than doubled to 36.9 million dinars ($381,000/314,000 euro) in the first quarter of 2021 from 16.8 million dinars in the like period of last year.

Fintel Energija's financial income rose 46.2% on the year to 63.3 million dinars in January-March, while financial expenses edged up to 18 million dinars from 17.7 million dinars, the company said in its first-half consolidated financial statement on Friday.

The company recorded an operating loss of 8.4 million dinars, versus a 8.8 million dinars operating loss in January-March 2020.

Fintel Energija's shares last traded on the Belgrade bourse on May 12, closing 3.94% higher at 660 dinars in a volume of 10.

In November 2018, Fintel Energija successfully completed the first initial public offering (IPO) on the Belgrade Stock Exchange since 1940.

(1 euro = 117.642 dinars)

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