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Petrokent Turizm Q2 loss widens 10.4% YOY

Petrokent Turizm AS said its second-quarter normalized net income amounted to a loss of 1.38 Turkish lira per share, compared with a loss of 1.25 lira per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.4 million lira, compared with a loss of 1.3 million lira in the year-earlier period.

The normalized profit margin dropped to negative 17.5% from negative 16.6% in the year-earlier period.

Total revenue grew year over year to 8.1 million lira from 7.8 million lira, and total operating expenses grew on an annual basis to 9.8 million lira from 9.6 million lira.

Reported net income came to a loss of 1.9 million lira, or a loss of 1.82 lira per share, compared to a loss of 1.7 million lira, or a loss of 1.68 lira per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to 2.78 Turkish lira.