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Dogus Otomotiv profit misses consensus by 18.2% in Q3

Dogus Otomotiv Servis ve Ticaret AS said its third-quarter normalized net income came to 29 kurus per share, compared with the S&P Capital IQ consensus estimate of 35 kurus per share.

EPS climbed 26.9% year over year from 23 kurus.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 63.0 million lira, an increase of 27.0% from 49.6 million lira in the year-earlier period.

The normalized profit margin dropped to 2.1% from 2.7% in the year-earlier period.

Total revenue climbed 62.1% on an annual basis to 2.99 billion lira from 1.84 billion lira, and total operating expenses climbed 62.8% year over year to 2.84 billion lira from 1.75 billion lira.

Reported net income grew 22.6% year over year to 82.0 million lira, or 37 kurus per share, from 66.9 million lira, or 30 kurus per share.

As of Nov. 10, US$1 was equivalent to 2.92 Turkish lira.