Ditas Dogan Yedek Parça Imalat ve Teknik AS said its normalized net income for the first quarter amounted to 6 kurus per share, a decline of 71.0% from 22 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 631,890 lira, a decrease of 71.0% from 2.2 million lira in the year-earlier period.
The normalized profit margin declined to 3.5% from 13.2% in the year-earlier period.
Total revenue grew 9.7% year over year to 18.2 million lira from 16.6 million lira, and total operating expenses grew 32.0% year over year to 17.6 million lira from 13.3 million lira.
Reported net income declined 74.5% on an annual basis to 682,150 lira, or 7 kurus per share, from 2.7 million lira, or 27 kurus per share.
As of May 6, US$1 was equivalent to 2.70 Turkish lira.
