GSM giant Turkcell's revenues reach $2.14B in H1

ISTANBUL-Anadolu Agency

Turkish mobile network giant Turkcell's revenues totaled 11.86 billion Turkish liras ($2.14 billion) in the first half of 2019, the company announced on July 31.

Revenues rose 20.3% year-on-year in the first six months of this year, Turkcell said in a report.

Net profits of the GSM operator rose by 91.1% to stand at 1.75 billion Turkish liras ($316 million) in the same period, it added, while earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 4.8 billion liras ($867 million).

The report indicated that Turkcell subscribers in Turkey, Northern Cyprus, Ukraine, Belarus, and Europe numbered at 48.2 million as of the end of June.

Meanwhile, another GSM giant in Turkey -- Türk Telekom -- posted revenues of 11.16 billion Turkish liras ($2 billion) in the year's first half.

Türk Telekom's net profit was 745 million liras ($134.7 million) in the same period, according to its balance sheet.

The U.S. dollar/Turkish lira exchange rate was 5.55 in as of the end of the first half of 2019.