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Turkcell Q3 profit up 6.3 pct on higher EBITDA, finance income
October 19, 2012 / 5:06 AM / 5 years ago

Turkcell Q3 profit up 6.3 pct on higher EBITDA, finance income

ISTANBUL, Oct 19 (Reuters) - Turkey’s largest mobile phone operator Turkcell’s 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)

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