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Dardanel Onentas Gida Sanayi Q1 loss widens YOY

Dardanel Onentas Gida Sanayi AS said its first-quarter normalized net income amounted to a loss of 22 kurus per share, compared with a loss of 5 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 7.6 million lira, compared with a loss of 1.7 million lira in the year-earlier period.

The normalized profit margin fell to negative 12.2% from negative 4.9% in the year-earlier period.

Total revenue climbed 75.4% year over year to 62.4 million lira from 35.5 million lira, and total operating expenses grew 72.2% year over year to 56.6 million lira from 32.9 million lira.

Reported net income came to a loss of 12.2 million lira, or a loss of 35 kurus per share, compared to a loss of 2.7 million lira, or a loss of 8 kurus per share, in the prior-year period.

As of May 11, US$1 was equivalent to 2.69 Turkish lira.