Net profits of companies traded on the Borsa Istanbul Stock Exchange (BIST) in the second quarter of this year soared by 23 percent year-on-year, rising to TL 23.94 billion ($3.65 billion) from TL 19.456 billion.
Of the 96 companies that traded on the BIST 100 index that shared their financial results within the balance sheet disclosure period, 74 achieved net profits in the second quarter, while the remaining 22 companies announced net losses.
In the period in question, the net profit of Doğan Holding, Garanti Bank, Akbank, İş Bankası, Ereğli Demir Çelik, Koç Holding, Yapı Kredi Bank, Sabancı Holding, İskenderun Demir Çelik, Halkbank, VakıfBank and Tüpraş exceeded TL 1 billion.
For companies on the BIST 100 index, Doğan Holding had the highest net profit, TL 3.46 billion, in the second quarter, outperforming Garanti Bank, which was the leader in net profit growth. The rise in the group's net profit emanated from its sale of its shares of media companies to Demirören Media Investments Trade Inc., for $916 million on April 6.
Garanti Bank ranked second with TL 1.9 billion in net profit in the second quarter, followed by Akbank with TL 1.6 billion, İş Bankası with TL 1.53 billion, Ereğli Demir Çelik with TL 1.5 billion and Koç Holding with TL 1.42 billion.
In the same period, Gözde Girişim announced the largest net loss – TL 1.3 billion. Doğan Holding once again achieved the highest net profit growth for April to June compared to the same period last year. While the company lost TL 53.6 million in the second quarter of 2017, it made a profit of TL 3.46 billion in the second quarter this year. In terms of net profit increase, Doğan Holding was followed by Ereğli Demir Çelik whose profit surged to TL 1.51 billion from TL 87 million in a year. In terms of percentage, Gersan Elektrik came in first in net profit increase, rising to TL 5.5 million from TL 760,000, a 7.2-fold upsurge. Also, Sasa Polyester's net profit reached TL 224.8 million, a 600 percent increase.