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Componenta Dökümcülük Q1 profit falls YOY

Componenta Dökümcülük Ticaret ve Sanayi AS said its normalized net income for the first quarter came to 8 kurus per share, a decline of 35.7% from 13 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 5.6 million lira, a decrease of 35.6% from 8.7 million lira in the year-earlier period.

The normalized profit margin fell to 2.9% from 4.5% in the year-earlier period.

Total revenue grew year over year to 194.3 million lira from 192.2 million lira, and total operating expenses climbed on an annual basis to 178.5 million lira from 174.1 million lira.

Reported net income decreased 21.7% year over year to 7.0 million lira, or 10 kurus per share, from 8.9 million lira, or 13 kurus per share.

As of May 5, US$1 was equivalent to 2.71 Turkish lira.