Electromagnetica posted profit in the first nine months of this year, showing a positive net result of 5.440 million lei, after the same period of 2015 had posted losses of 3.642 million lei, according to financial results transmitted to Bucharest Stock Exchange (BVB).

The company’s revenue fell to 172.139 million lei between January-September 2016 by some 40.6% compared to the same period in 2015, from 299.185 million lei, according to Bursa.

The results of the company show, however, that the total expenditure decreased by 43% in the first nine months of this year, as compared with the same period in 2015 while total debts stood at 40.093 million lei, down from 46.842 million lei.

According to Agerpres, by b30 September 2016, Electromagnetica owned fixed assets worth 228.159 million lei, down 1.5% compared to the first nine months of the previous year, while trade receivables decreased by 7%, as a result of lower activity in electricity supply.