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Ditas Dogan Yedek Parça swings to loss in Q1

Ditas Dogan Yedek Parça Imalat ve Teknik AS said its normalized net income for the first quarter amounted to a loss of 5 kurus per share, compared with 6 kurus per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 470,630 lira, compared with income of 631,890 lira in the year-earlier period.

The normalized profit margin declined to negative 2.8% from 3.5% in the year-earlier period.

Total revenue fell 7.5% on an annual basis to 16.8 million lira from 18.2 million lira, and total operating expenses fell year over year to 16.8 million lira from 17.6 million lira.

Reported net income totaled a loss of 707,790 lira, or a loss of 7 kurus per share, compared to income of 682,150 lira, or 7 kurus per share, in the prior-year period.

As of April 28, US$1 was equivalent to 2.81 Turkish lira.