Bloomberg News

Otokar Falls in Istanbul After First-Quarter Profit Declines

May 03, 2012

Otokar Otomotiv & Savunma Sanayi AS (OTKAR), a Turkish producer of buses and military trucks, fell after reporting that first-quarter profit declined 31 percent.

Otokar dropped 2.3 percent to 30.2 liras at the close in Istanbul, the lowest level in more than a week. Net income fell to 6.33 million liras ($3.6 million) from 9.19 million liras in the first quarter of 2011, Otokar said in a statement to the Istanbul Stock Exchange today.

To contact the reporter on this story: Sibel Akbay in Istanbul at sakbay@bloomberg.net

To contact the editor responsible for this story: Aydan Eksin at aeksin@bloomberg.net


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus