Bursa-based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret A.S (Cemtas) has posted a net profit of TRY 2.9 million ($1.6 million) for the first quarter of 2012, down from the net profit of TRY 4.49 million in the same period of 2011.
In the given quarter, total sales revenues of the company increased 20.7 percent year on year to TRY 60.2 million ($34.12 million). Cemtas reported an operating income of TRY 1.56 million ($886,500) for the first quarter, down 63.6 percent compared to the corresponding quarter of the previous year.
Cemtas' steel billet output in the first quarter totaled 33,724 mt, increasing by eight percent year on year, while its rolled steel output increased by 9.5 percent to 31,565 mt compared to the first quarter of 2011.