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Bizim Toptan Satis Magazalari Q1 profit falls YOY

Bizim Toptan Satis Magazalari AS said its first-quarter normalized net income came to 242,160 lira, a decrease of 93.6% from 3.8 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 dropped to 0.0% from 0.8% in the year-earlier period.

Total revenue rose 9.8% year over year to 545.4 million lira from 496.5 million lira, and total operating expenses increased 11.0% year over year to 537.0 million lira from 483.9 million lira.

Reported net income declined 92.9% year over year to 341,100 lira, or 1 kurus per share, from 4.8 million lira, or 8 kurus per share.

As of April 29, US$1 was equivalent to 2.65 Turkish lira.