Turkcell: net profit down 42.4%

6 Aug 2009

Turkey’s leading mobile operator by subscribers, Turkcell, has reported net profit of USD245.8 million for the second quarter of 2009, down 42.4% year-on-year. The firm attributed the drop to the ongoing depreciation of the Turkish lira against the US dollar and provisions set aside for litigation which impacted the bottom line by TRY123 million (USD84.4 million). Turkcell reported revenues of USD1.4 billion for the three months ended 30 June, down 20.3% compared to Q208. However, in local currency revenue was TRY2.2 billion, growth of 1.1% year-on-year. At the end of June the cellco had a wireless customer base of 36.3 million, up from 35.4 million a year earlier.

Turkey, Turkcell