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Oylum Sinai Yatirimlar Q2 loss narrows YOY

Oylum Sinai Yatirimlar AS said its normalized net income for the second quarter came to a loss of 1 kurus per share, compared with a loss of 2 kurus 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 125,800 lira, compared with a loss of 213,620 lira in the year-earlier period.

The normalized profit margin climbed to negative 3.4% from negative 8.0% in the year-earlier period.

Total revenue grew 38.0% year over year to 3.7 million lira from 2.7 million lira, and total operating expenses climbed 34.3% year over year to 3.8 million lira from 2.8 million lira.

Reported net income came to a loss of 98,100 lira, or a loss of 1 kurus per share, compared to a loss of 286,210 lira, or a loss of 3 kurus per share, in the year-earlier period.

As of Aug. 10, US$1 was equivalent to 2.79 Turkish lira.