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Oylum Sinai Yatirimlar profit holds mostly steady YOY in Q1

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Oylum Sinai Yatirimlar profit holds mostly steady YOY in Q1

Oylum Sinai Yatirimlar AS said its normalized net income for the first quarter amounted to a loss of 87,070 lira, compared with a loss of 87,400 lira in the prior-year period.

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

The normalized profit margin rose to negative 2.3% from negative 3.1% in the year-earlier period.

Total revenue rose 36.4% on an annual basis to 3.8 million lira from 2.8 million lira, and total operating expenses grew 29.4% year over year to 3.9 million lira from 3.0 million lira.

Reported net income totaled a loss of 134,370 lira, or a loss of 2 kurus per share, compared to a loss of 163,000 lira, or a loss of 2 kurus per share, in the prior-year period.

As of April 30, US$1 was equivalent to 2.68 Turkish lira.