Turkish Tofas net profit doubles in Q3

Newswire

ISTANBUL, Nov 21 (Reuters) - Turkish carmaker Tofas' net profit surged 106 percent year-on-year to 48.97 million lira ($40.6 million) in the third quarter, Istanbul Stock Exchange data showed on Wednesday. The company posted a net profit of 122.35 million lira in the first nine months of the year. Tofas, a joint venture between Italy's Fiat and Turkey's Koc Holding , produces cars for both the domestic market and for export. (Reporting by Daren Butler)

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