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Bosch Fren Sistemleri Q1 profit falls YOY

Bosch Fren Sistemleri Sanayi ve Ticaret AS said its normalized net income for the first quarter came to 57 kurus per share, a decrease of 10.2% from 64 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 1.4 million lira, a decline of 10.2% from 1.6 million lira in the prior-year period.

The normalized profit margin dropped to 7.7% from 8.3% in the year-earlier period.

Total revenue climbed year over year to 19.4 million lira from 19.2 million lira, and total operating expenses increased 6.7% on an annual basis to 17.9 million lira from 16.8 million lira.

Reported net income decreased 39.3% from the prior-year period to 2.0 million lira, or 78 kurus per share, from 3.2 million lira, or 1.29 lira per share.

As of April 28, US$1 was equivalent to 2.65 Turkish lira.