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Mepet Metro Petrol ve Tesisleri Q3 profit climbs 18.4% YOY

Mepet Metro Petrol ve Tesisleri Sanayi Ticaret A.S. said its third-quarter normalized net income amounted to 5 kurus per share, a gain of 18.4% from 5 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 4.1 million lira, a gain of 18.4% from 3.4 million lira in the prior-year period.

The normalized profit margin climbed to 4.1% from 4.0% in the year-earlier period.

Total revenue rose 16.3% on an annual basis to 98.5 million lira from 84.7 million lira, and total operating expenses grew 17.6% year over year to 93.1 million lira from 79.2 million lira.

Reported net income grew 73.7% on an annual basis to 5.1 million lira, or 7 kurus per share, from 2.9 million lira, or 4 kurus per share.

As of Oct. 31, US$1 was equivalent to 3.10 Turkish lira.