BIST companies' net profits up 58.4 pct, reach $74.5B in 2017

The net profits of companies traded on the Borsa Istanbul Stock Exchange (BIST) reached TL 74.5 billion ($19 billion) last year from around TL 46.76 in 2016, a 58.4 percent upsurge.

While 20 of these companies exceeded TL 1 billion in net profits, the net profit for all was TL 60.925 billion. So, the top 20 companies with the highest net profit accounted for 82.3 percent of total net profits reaped by companies traded on the BIST 100 index.

Of 94 companies traded on the BIST 100 index, 82 that shared their financial results in the balance sheet disclosure period made net profits. The remaining 12 companies sustained net losses last year.

According to the results, Garanti Bank was the most profitable company with TL 6.344 billion in net profits last year. In terms of net profit, Garanti Bank was followed by Akbank with TL 6.39 billion, İş Bankası with TL 5.307 billion and Koç Holding with TL 4.908 billion.

On the other hand, Akenerji announced the highest net loss last year: TL 505 million, followed by Doğan Group at TL 471.6 million, Global Yatırım Holding at TL 329.2 million and Hürriyet Gazetecilik at TL 264.5 million.

Gözde Girişim increased its net profit the most last year compared to the end of 2016. The company's net profit rose to TL 1.990 billion last year from TL 116.8 million in 2016, increasing its net profit by 17 times in a year.

In terms of net profit rise, Gözde Girişim was followed by Kartonsan, which boosted net profit to TL 38.4 million from TL 2.9 million in a year.

While Afyon Çimento ranked third with a net profit increase of 462.5 percent, it was followed by Metro Holding at 395.5 percent, Banvit Bandırma Vitaminli Yem Sanayii at 307.1 percent and Yataş at 296.8 percent.