Bosch Fren Sistemleri Sanayi ve Ticaret AS said its normalized net income for the third quarter amounted to 86 kurus per share, a decline of 21.2% from 1.09 lira per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.1 million lira, a decline of 21.2% from 2.7 million lira in the prior-year period.

The normalized profit margin fell to 8.4% from 12.9% in the year-earlier period.

Total revenue rose 21.0% on an annual basis to 25.6 million lira from 21.2 million lira, and total operating expenses rose 32.6% year over year to 22.8 million lira from 17.2 million lira.

Reported net income decreased 39.2% on an annual basis to 2.7 million lira, or 1.08 lira per share, from 4.5 million lira, or 1.78 lira per share.

As of Oct. 26, US$1 was equivalent to 3.08 Turkish lira.