By Yeliz Candemir
ISTANBUL--Turkey's biggest mobile-phone operator by subscribers
Turkcell Iletisim Hizmetleri AS (TKC) reported a 45% jump in
second-quarter net profit, beating expectations, on the increasing
operational strength of Turkcell Turkey and a positive impact from
currency movements.
Net profit rose to 712 million lira ($256 million) in the three
months ended June from TRY492.3 million in the year-earlier period,
the Istanbul-based company said Thursday. Analysts had forecast a
net profit of TRY622 million.
Turkcell said its revenue grew 5.8% to TRY3.093 billion in the
period. Earnings before interest, taxes, depreciation and
amortization, or Ebitda, rose 9.7% to TRY995 million.
"Higher translation gains mainly driven by positive quarterly
currency movement impact from Ukraine operations as UAH appreciated
quarterly 10% against U.S. dollar and Turkey operations due to our
foreign currency cash position as TRY depreciated 3% against U.S.
dollar," Turkcell said.
Turkcell shares Thursday closed 1.2% higher at TRY12.45,
compared with a 0.25% rise in the benchmark BIST-100 Index.
Write to Yeliz Candemir at yeliz.candemir@wsj.com
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