Companies listed on the Bucharest Stock Exchange (BVB) totaled RON 590 mln (almost 140 mln euro) in net profit in the first three months of this year, down 62 percent compared to Q1 2008, after registering losses worth some 150 mln. euro in the final quarter of last year, Business Standard reported.

Without including the profit of Petrom, the largest Romanian company listed on BVB, 60 issuers had a profit of RON 78.5 mln (18.4 mln euro) in the first quarter of 2009, down a staggering 95 percent year-on-year. According to data centralized by Business Standard, 20 companies posted losses in the first three months of this year, compared to 36 issuers in Q4 2008.

The businesses of listed companies amounted to RON 14.5 billion (3.4 bln euro), a level similar to that registered in Q1 2008.

Only three companies registered profit exceeding RON 100 mln in the first three months, (Petrom, BRD-Groupe Societe Generale lender, and Transgaz state-owned gas transportation company), totaling RON 861 mln worth of earnings.

Source: Business Standard