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Dardanel Onentas Gida Sanayi Q2 profit falls YOY

Dardanel Onentas Gida Sanayi AS said its second-quarter normalized net income was 358,010 lira, a decline of 91.1% from 4.0 million lira in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 0.7% from 11.7% in the year-earlier period.

Total revenue rose 44.8% on an annual basis to 49.7 million lira from 34.4 million lira, and total operating expenses climbed 37.3% on an annual basis to 40.8 million lira from 29.7 million lira.

Reported net income declined 90.8% on an annual basis to 590,300 lira, or 1 kurus per share, from 6.4 million lira, or 19 kurus per share.

As of Aug. 19, US$1 was equivalent to 2.94 Turkish lira.