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Bizim Toptan Satis Magazalari Q3 profit falls YOY

Bizim Toptan Satis Magazalari AS said its third-quarter normalized net income amounted to 6 kurus per share, a decline of 19.1% from 7 kurus per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.5 million lira, a decline of 19.1% from 4.4 million lira in the prior-year period.

The normalized profit margin declined to 0.5% from 0.6% in the year-earlier period.

Total revenue increased 9.9% on an annual basis to 757.4 million lira from 689.5 million lira, and total operating expenses climbed 9.6% from the prior-year period to 740.7 million lira from 675.7 million lira.

Reported net income decreased 10.0% year over year to 4.5 million lira, or 7 kurus per share, from 5.0 million lira, or 8 kurus per share.

As of Oct. 27, US$1 was equivalent to 3.10 Turkish lira.