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Avrasya Petrol Q2 profit falls YOY

Avrasya Petrol ve Turistik Tesisler Yatirimlar Anonim Sirketi said its normalized net income for the second quarter amounted to 38,340 lira, a decline of 92.5% from 512,360 lira in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 7.9% from 112.0% in the year-earlier period.

Total revenue climbed 39.1% on an annual basis to 635,970 lira from 457,260 lira.

Reported net income totaled a loss of 2.0 million lira, or a loss of 5 kurus per share, compared to a loss of 82,480 lira, or a loss of 0 kurus per share, in the prior-year period.

As of July 29, US$1 was equivalent to 2.99 Turkish lira.