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Kipa Ticaret fiscal Q3 loss widens 41.5% YOY

Kipa Ticaret AS said its normalized net income for the fiscal third quarter ended Nov. 23 came to a loss of 5 kurus per share, compared with a loss of 27 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 66.9 million lira, compared with a loss of 47.3 million lira in the year-earlier period.

The normalized profit margin fell to negative 11.1% from negative 8.2% in the year-earlier period.

Total revenue rose on an annual basis to 599.0 million lira from 575.6 million lira, and total operating expenses climbed 8.5% year over year to 688.8 million lira from 634.7 million lira.

Reported net income totaled a loss of 107.7 million lira, or a loss of 8 kurus per share, compared to a loss of 76.0 million lira, or a loss of 44 kurus per share, in the prior-year period.

As of Dec. 30, US$1 was equivalent to 2.33 Turkish lira.