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Eczacibasi Pharmaceutical & Industrial Q1 profit climbs YOY

Eczacibasi Pharmaceutical & Industrial Investment Co. said its normalized net income for the first quarter was 4 kurus per share, a gain from 1 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 26.8 million lira, a gain from 9.3 million lira in the year-earlier period.

The normalized profit margin climbed to 8.8% from 3.6% in the year-earlier period.

Total revenue climbed 18.0% on an annual basis to 303.2 million lira from 256.9 million lira, and total operating expenses rose 16.8% year over year to 294.5 million lira from 252.2 million lira.

Reported net income grew on an annual basis to 32.3 million lira, or 5 kurus per share, from 9.7 million lira, or 1 kurus per share.

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