Turkcell posts 42.4% drop in net profit (Turkey)

www.WirelessFederation.com/news: Turkcell has posted  net profit of USD245.8 million for the Q2’09, down 42.4% year-on-year. The drop is driven by the ongoing depreciation of the Turkish lira against the US dollar and provisions set aside for litigation which impacted the bottom line by TRY123 million (USD84.4 million). The telco reported revenues of USD1.4 billion for the three months ended 30 June, down 20.3% in comparison to Q208. The telco ended June with a subscriber base of 36.3 million.