Turkey's Aselsan increases Q3 net profit by 126 pct

ANKARA

ASELSAN, a leading Turkish defense systems producer, said Tuesday its third quarter net profit increased by 126 percent over the same period a year ago.

The company has earned a profit of 153.2 million Turkish liras ($48.3 million) in the third quarter of 2016, according to a statement to Borsa Istanbul, Turkey's stock exchange.

The company's revenue also increased to 734.9 million liras ($232M) from 536.5 million liras in 2015.

ASELSAN is ranked 58th on a list of the world's top 100 defense giants in 2016, compiled by the prestigious U.S. weekly, Defense News.