April 19 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:0EA] said on Friday that its net profit rose to 831,000 levs ($478,000/425,000 euro) in the first quarter of the year from 629,000 levs in the same period of 2018.
The company's revenue soared to 5.4 million levs in January-March, from 1.2 million levs in the corresponding period of last year, Elana Agrocredit said in an interim financial statement.
The rise was due to higher revenue from taxes and other revenue from leasing activities, which increased to 4.2 million levs in the first three months of 2019 from just 145,000 levs in the like period of 2018.
Total expenses also grew sharply, to 4.5 million levs in the review period from 478,000 levs a year earlier.
(1 euro = 1.95583 levs)