(Reuters) - The company's operating profit fell 5.2 percent to 178.87 million lira in the first quarter on sales up 13.05 percent at 1.58 billion lira, according to Otosan's financial statements, published on the Istanbul Stock Exchange's Web site.
Oyak Securities senior analyst Cemal Demirtas said the effective tax rate was 26 percent, higher than his 20 percent expectation, due to higher deferred tax expenses.
Read more at Reuters.com Market News
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