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Ekiz Kimya Sanayi Ve Ticaret Q1 loss narrows YOY

Ekiz Kimya Sanayi Ve Ticaret AS said its first-quarter normalized net income came to a loss of 7 kurus per share, compared with a loss of 9 kurus per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 466,900 lira, compared with a loss of 663,820 lira in the year-earlier period.

The normalized profit margin climbed to negative 8.9% from negative 12.3% in the year-earlier period.

Total revenue declined on an annual basis to 5.3 million lira from 5.4 million lira, and total operating expenses fell 11.2% on an annual basis to 5.1 million lira from 5.7 million lira.

Reported net income came to a loss of 747,030 lira, or a loss of 10 kurus per share, compared to a loss of 1.1 million lira, or a loss of 15 kurus per share, in the prior-year period.

As of April 30, US$1 was equivalent to 2.68 Turkish lira.