Turkish steel producer Yükselen Çelik has announced its financial results for the third quarter and the first nine months of this year.
In the third quarter, the company posted a net loss of TRY 34.97 million ($828,273), compared to TRY 158.3 million in the corresponding period last year. Yükselen Çelik’s operating profit amounted to TRY 36.14 million ($855,858), compared to TRY 130.96 million in the third quarter last year, while its sales revenues totaled TRY 251.53 million ($5.95 million), down by 43.3 percent year on year.
In the January-September period this year, the company posted a net loss of TRY 135.19 million ($3.2 million), compared to a net loss of TRY 394.04 million in the same period of the previous year, while its sales revenues amounted to TRY 767.96 million ($18.2 million), down by 49.3 percent year on year. In addition, the company registered an operating loss of TRY 19.71 million ($466,961) in the given period, compared to an operating profit of TRY 13.31 million in the same period last year.