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Dogtas Kelebek Mobilya Q3 loss narrows YOY

Dogtas Kelebek Mobilya Sanayi ve Ticaret AS said its normalized net income for the third quarter came to a loss of 1.0 million lira, compared with a loss of 11.3 million 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 increased to negative 0.9% from negative 11.0% in the year-earlier period.

Total revenue increased 14.5% year over year to 117.9 million lira from 103.0 million lira, and total operating expenses climbed 17.4% from the prior-year period to 104.0 million lira from 88.6 million lira.

Reported net income came to a loss of 1.2 million lira, or a loss of 1 kurus per share, compared to a loss of 14.6 million lira, or a loss of 7 kurus per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to 3.23 Turkish lira.