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Turk Telekom posts 1.3 billion lira 2013 net profit
February 4, 2014 / 5:25 PM / 4 years ago

Turk Telekom posts 1.3 billion lira 2013 net profit

ISTANBUL, Feb 4 (Reuters) - Turkish landline operator Turk Telekom on Tuesday posted net profit of 1.3 billion lira ($577 million) in 2013, compared with 2.64 billion in 2012.

Net income may have been dragged lower because a weaker lira made financing its forex debt more expensive, analysts said before the results were released.

Revenue was 13.19 billion lira last year, compared with 12.71 billion lira in 2012, according to a balance sheet filed with the stock exchange.

Reporting by Ayla Jean Yackley; Editing by David Goodman

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