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Oylum Sinai Yatirimlar Q3 loss narrows YOY

Oylum Sinai Yatirimlar AS said its normalized net income for the third quarter came to a loss of 2 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 218,290 lira, compared with a loss of 434,660 lira in the year-earlier period.

The normalized profit margin increased to negative 5.7% from negative 15.2% in the year-earlier period.

Total revenue climbed 34.3% on an annual basis to 3.8 million lira from 2.9 million lira, and total operating expenses climbed 36.4% year over year to 4.1 million lira from 3.0 million lira.

Reported net income came to a loss of 487,180 lira, or a loss of 5 kurus per share, compared to a loss of 545,970 lira, or a loss of 6 kurus per share, in the prior-year period.

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