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Petrokent Turizm Q1 loss narrows YOY

Petrokent Turizm AS said its first-quarter normalized net income amounted to a loss of 2.05 Turkish lira per share, compared with a loss of 2.18 lira per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 2.1 million lira, compared with a loss of 2.3 million lira in the prior-year period.

Total revenue climbed 14.5% year over year to 303,180 lira from 264,870 lira, and total operating expenses declined 14.4% year over year to 3.0 million lira from 3.5 million lira.

Reported net income totaled a loss of 2.6 million lira, or a loss of 2.48 lira per share, compared to a loss of 3.2 million lira, or a loss of 3.04 lira per share, in the year-earlier period.

As of May 7, US$1 was equivalent to 2.69 Turkish lira.