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Bosch Fren Sistemleri Q1 profit climbs 33.1% YOY

Bosch Fren Sistemleri Sanayi ve Ticaret AS said its normalized net income for the first quarter amounted to 80 kurus per share, an increase of 33.1% from 60 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 2.0 million lira, an increase of 33.1% from 1.5 million lira in the prior-year period.

The normalized profit margin rose to 8.2% from 7.7% in the year-earlier period.

Total revenue rose 25.2% on an annual basis to 24.3 million lira from 19.4 million lira, and total operating expenses increased 25.4% year over year to 21.7 million lira from 17.3 million lira.

Reported net income grew 39.7% year over year to 2.7 million lira, or 1.09 lira per share, from 2.0 million lira, or 78 kurus per share.

As of April 29, US$1 was equivalent to 2.79 Turkish lira.