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Dogus Otomotiv profit misses consensus by 24.9% in Q2

Dogus Otomotiv Servis ve Ticaret AS said its normalized net income for the second quarter came to 27 kurus per share, compared with the S&P Capital IQ consensus estimate of 36 kurus per share.

EPS declined year over year from 27 kurus.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 59.5 million lira, a decline from 60.1 million lira in the year-earlier period.

The normalized profit margin declined to 2.1% from 3.3% in the year-earlier period.

Total revenue rose 51.6% year over year to 2.79 billion lira from 1.84 billion lira, and total operating expenses grew 53.5% on an annual basis to 2.69 billion lira from 1.75 billion lira.

Reported net income fell year over year to 82.5 million lira, or 37 kurus per share, from 84.7 million lira, or 39 kurus per share.

As of Aug. 20, US$1 was equivalent to 2.91 Turkish lira.