Turkcell Q3 profit up 6.3 percent on higher EBITDA, finance income
ISTANBUL (Reuters) - Turkey's largest mobile phone operator Turkcell's (TCELL.IS) third-quarter net profit rose 6.3 percent to 570.8 million lira ($317.67 million) due to rising net finance income and earnings before interest, tax, depreciation and amortisation (EBITDA).
Sales rose 9 percent in the period to 2.75 billion lira from a year earlier, the firm said in a statement filed with the Istanbul Stock Exchange late on Thursday.
Analysts had expected Turkcell to report net profit of 559.7 million lira and sales of 2.72 billion lira, according to a Reuters survey.
EBITDA increased by 4.7 percent to 912 million lira in the quarter from a year ago, Turkcell said.
"We now expect revenue in the range of 10.3-10.4 billion lira and EBITDA in the range of 3.1-3.2 billion lira for 2012," Chief Executive Sureyya Ciliv said in a stock exchange statement.
Net finance income increased 49.4 percent to 121.3 million lira in the third quarter from a year ago due to a higher interest income of 133 million lira earned on time deposits in the third quarter, the company said.
($1 = 1.7968 Turkish liras)
(Reporting by Seda Sezer; Editing by Daniel Magnowski)