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Dagi Giyim Sanayi ve Ticaret Q2 profit falls YOY

Dagi Giyim Sanayi ve Ticaret AS said its normalized net income for the second quarter came to 331,670 lira, a decrease of 75.6% from 1.4 million lira in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 1.7% from 4.2% in the year-earlier period.

Total revenue decreased 38.6% year over year to 19.9 million lira from 32.4 million lira, and total operating expenses declined 37.9% year over year to 18.1 million lira from 29.2 million lira.

Reported net income declined 83.8% year over year to 276,100 lira, or 1 kurus per share, from 1.7 million lira, or 4 kurus per share.

As of Aug. 8, US$1 was equivalent to 2.98 Turkish lira.