Vestel Beyaz Esya Sanayi ve Ticaret AS said its normalized net income for the third quarter was 31 kurus per share, a gain from 12 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 59.1 million lira, an increase from 22.7 million lira in the prior-year period.

The normalized profit margin rose to 8.5% from 3.2% in the year-earlier period.

Total revenue came to 696.5 million lira, compared with 700.0 million lira in the year-earlier period, and total operating expenses decreased on an annual basis to 609.1 million lira from 626.1 million lira.

Reported net income increased from the prior-year period to 89.6 million lira, or 47 kurus per share, from 34.3 million lira, or 18 kurus per share.

As of Oct. 21, US$1 was equivalent to 3.08 Turkish lira.