Turkcell Q1 Net Profit Surges 56%

Turkcell Iletisim Hizmetleri AS

posted a 56% surge in its first-quarter net profit. Turkcell's quarterly net profit climbed to 515.5 million Turkish lira ($292.5 million), from TRY330.9 million, in the year-ago period. However, analysts were expecting a net profit of TRY407 million. Turkcell's revenue surged 12.4% to TRY2.38 billion, versus analysts' estimates of TRY2.3 billion. Turkcell shares closed at $12.23 yesterday.