Desa Deri Sanayi ve Ticaret A.S. said its normalized net income for the first quarter amounted to a loss of 1 kurus per share, compared with a loss of 2 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 619,450 lira, compared with a loss of 948,130 lira in the year-earlier period.
The normalized profit margin rose to negative 1.2% from negative 2.1% in the year-earlier period.
Total revenue grew 12.5% on an annual basis to 51.9 million lira from 46.1 million lira, and total operating expenses climbed 9.2% on an annual basis to 49.9 million lira from 45.7 million lira.
Reported net income came to a loss of 943,150 lira, or a loss of 2 kurus per share, compared to a loss of 1.5 million lira, or a loss of 3 kurus per share, in the prior-year period.
As of May 11, US$1 was equivalent to 2.69 Turkish lira.
