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Derimod Konfeksiyon Ayakkabi Deri Q3 loss narrows YOY

Derimod Konfeksiyon Ayakkabi Deri Sanayi ve Ticaret AS said its third-quarter normalized net income was a loss of 35,330 lira, compared with a loss of 345,520 lira in the year-earlier period.

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

The normalized profit margin climbed to 0.1% from negative 0.6% in the year-earlier period.

Total revenue climbed 7.2% on an annual basis to 60.0 million lira from 56.0 million lira, and total operating expenses climbed 5.0% year over year to 58.9 million lira from 56.1 million lira.

Reported net income came to a loss of 45,780 lira, or a loss of 1 kurus per share, compared to a loss of 684,970 lira, or a loss of 13 kurus per share, in the year-earlier period.

As of Oct. 31, US$1 was equivalent to 3.10 Turkish lira.