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Altinyag Combine Q2 loss widens 7.5% YOY

Altinyag Combine Inc. said its normalized net income for the second quarter amounted to a loss of 517,640 lira, compared with a loss of 481,640 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 rose to 5.8% from negative 2.4% in the year-earlier period.

Total revenue increased 11.5% year over year to 22.4 million lira from 20.0 million lira, and total operating expenses rose 16.9% from the prior-year period to 24.0 million lira from 20.6 million lira.

Reported net income came to a loss of 930,180 lira, or a loss of 2 kurus per share, compared to a loss of 758,770 lira, or a loss of 1 kurus per share, in the prior-year period.

As of Aug. 19, US$1 was equivalent to 2.94 Turkish lira.