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Isiklar Enerji ve Yapi Holding Q2 profit climbs YOY

Isiklar Enerji ve Yapi Holding AS said its normalized net income for the second quarter amounted to 5.7 million lira, a rise from 1.4 million 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 increased to 8.6% from 3.1% in the year-earlier period.

Total revenue climbed 49.3% on an annual basis to 65.5 million lira from 43.8 million lira, and total operating expenses climbed 46.4% from the prior-year period to 66.4 million lira from 45.4 million lira.

Reported net income came to a loss of 5.0 million lira, or a loss of 2 kurus per share, compared to income of 486,930 lira, or 0 kurus per share, in the prior-year period.

As of Aug. 18, US$1 was equivalent to 2.93 Turkish lira.