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Dogtas Kelebek Mobilya Q1 loss widens YOY

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Dogtas Kelebek Mobilya Q1 loss widens YOY

Dogtas Kelebek Mobilya Sanayi ve Ticaret AS said its normalized net income for the first quarter was a loss of 6 kurus per share, compared with a loss of 2 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 11.6 million lira, compared with a loss of 4.1 million lira in the year-earlier period.

The normalized profit margin fell to negative 14.7% from negative 6.2% in the year-earlier period.

Total revenue increased 18.5% on an annual basis to 78.6 million lira from 66.4 million lira, and total operating expenses grew 11.9% from the prior-year period to 73.9 million lira from 66.0 million lira.

Reported net income came to a loss of 14.9 million lira, or a loss of 7 kurus per share, compared to a loss of 5.4 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.