Petkim, Turkey's petrochemical raw material manufacturer, reported a 64 percent plummet in its net profit to 131.4 million Turkish liras in the first quarter of 2018 compared to the same period of last year, Petkim announced Friday.
The company's net profit was around 365.9 million liras in the first quarter of 2017.
Net sales of 1.88 billion liras were made in the same quarter and the utilization capacity rate of the company was 76 percent.
US$1 equals 4.23 Turkish liras, according to Turkey's Central Bank data.
By Murat Temizer