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Avrasya Petrol Q3 profit climbs 40.0% YOY

Avrasya Petrol ve Turistik Tesisler Yatirimlar Anonim Sirketi said its normalized net income for the third quarter was 310,280 lira, a gain of 40.0% from 221,650 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 rose to 39.2% from 18.2% in the year-earlier period.

Total revenue declined 63.6% year over year to 442,410 lira from 1.2 million lira, and total operating expenses fell 99.0% from the prior-year period to 18,620 lira from 1.9 million lira.

Reported net income totaled 291,410 lira, or 1 kurus per share, compared to a loss of 25,490 lira, or a loss of 0 kurus per share, in the prior-year period.

As of Nov. 8, US$1 was equivalent to 3.18 Turkish lira.