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Teknosa Q1 loss widens 11.0% YOY

Teknosa Iç ve Dis Ticaret AS said its first-quarter normalized net income came to a loss of 8 kurus per share, compared with a loss of 7 kurus per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 8.9 million lira, compared with a loss of 8.0 million lira in the prior-year period.

The normalized profit margin climbed to negative 1.1% from negative 1.2% in the year-earlier period.

Total revenue rose 16.4% on an annual basis to 774.7 million lira from 665.6 million lira, and total operating expenses grew 16.4% on an annual basis to 783.2 million lira from 673.0 million lira.

Reported net income totaled a loss of 17.7 million lira, or a loss of 16 kurus per share, compared to a loss of 10.3 million lira, or a loss of 9 kurus per share, in the year-earlier period.

As of May 2, US$1 was equivalent to 2.80 Turkish lira.