Kipa Ticaret AS said its normalized net income for the fiscal second quarter ended Aug. 24 came to a loss of 3 kurus per share, compared with a loss of 26 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 a loss of 36.3 million lira, compared with a loss of 44.8 million lira in the prior-year period.
The normalized profit margin increased to negative 4.1% from negative 7.3% in the year-earlier period.
Total revenue increased year over year to 634.4 million lira from 611.3 million lira, and total operating expenses came to 675.3 million lira, compared with 670.9 million lira in the year-earlier period.
Reported net income totaled a loss of 58.7 million lira, or a loss of 4 kurus per share, compared to a loss of 77.3 million lira, or a loss of 44 kurus per share, in the year-earlier period.
As of Oct. 10, US$1 was equivalent to 2.28 Turkish lira.
