Turk Telekom posts $253.6M net profit in H1

GSM firm’s net sales and net profits rise to $253.6M and $2.05B in Jan-June from $132.5M and $1.98B in same period in 2019

Turkey’s telecommunications giant Turk Telekom posted net profits of 1.64 billion Turkish liras ($253.6 million) in the first half of 2020, up from 745 million liras ($132.5 million) in the same period last year.

The firm’s net sales were 13.27 billion Turkish liras ($2.05 billion) in the January-June period, increasing from 11.16 billion ($1.98 billion) in the first six months of 2019, according to the firm’s statement on Thursday.

The US dollar/Turkish lira exchange rate was 6.47 on average in the first half of 2020 and 5.62 in the same period 2019.

The number of the firm’s subscribers broadband, fiber, fixed voice and mobile reached 48.7 million as of the end of the first half of 2020.

In the second quarter of 2020, it had made net sales of nearly 7 billion Turkish liras ($1.01 billion) and net profits were 980 million liras ($142.6 million), up by 21% and 125.5% year-on-year, respectively.

Anadolu Agency

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