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Oylum Sinai Yatirimlar Q1 loss narrows YOY

Oylum Sinai Yatirimlar AS said its first-quarter normalized net income came to a loss of 7,750 lira, compared with a loss of 87,070 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 negative 1.4% from negative 2.3% in the year-earlier period.

Total revenue grew 9.2% year over year to 4.2 million lira from 3.8 million lira, and total operating expenses grew 7.6% from the prior-year period to 4.2 million lira from 3.9 million lira.

Reported net income totaled a loss of 32,520 lira, or a loss of 0 kurus per share, compared to a loss of 134,370 lira, or a loss of 2 kurus per share, in the year-earlier period.

As of May 3, US$1 was equivalent to 2.85 Turkish lira.