Türk Telekom announces loss due to slump in lira, rise in financing costs

Integrated telecommunications company Türk Telekom posted an annual loss of 888.6 million Turkish Liras ($183 million) in the second quarter compared to a net profit of 890 million liras in the same period of 2017, due to the falling value of Turkey's currency and an increase in its financing costs, it said in a statement to the main Istanbul stock exchange on July 25.