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Dardanel Onentas Gida Sanayi Q3 loss widens YOY

Dardanel Onentas Gida Sanayi AS said its third-quarter normalized net income came to a loss of 33 kurus per share, compared with a loss of 5 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 17.5 million lira, compared with a loss of 1.7 million lira in the year-earlier period.

The normalized profit margin dropped to negative 49.6% from negative 4.9% in the year-earlier period.

Total revenue came to 35.4 million lira, compared with 35.4 million lira in the prior-year period, and total operating expenses rose 46.4% on an annual basis to 40.5 million lira from 27.6 million lira.

Reported net income came to a loss of 28.0 million lira, or a loss of 53 kurus per share, compared to a loss of 2.8 million lira, or a loss of 8 kurus per share, in the prior-year period.

As of Nov. 23, US$1 was equivalent to 2.85 Turkish lira.