Teknosa increased its revenues by 36% to a record-high TL 5.6 billion, while recording TL 85.3 million in net profit, up from the net loss of TL 148 million a year ago.
The company’s online revenues grew 3.6-fold annually to exceed TL 1 billion. As a result, e-commerce’s share in total retail revenues soared from 7 to 19%.
The company’s performance improved quarter by quarter and reached its peak in 4Q20.
Teknosa is the leading technology retailer and e-commerce platform in Turkey.
Teknosa reached its all-time high quarterly performance in the third quarter of 2020. The company recorded TL 1.7 billion turnover and TL 62.5 million net profit in 3Q2020, achieving 61 percent sales growth compared to the same period a year ago.
Its e-commerce turnover grew by 123 percent compared to the same quarter last year.
Teknosa stores reopened in June and continued their significant contribution to sales.
Teknosa achieved 123 percent growth in e-commerce in the third quarter of 2020 compared to the same period last year and nearly quadrupled its 9-month online turnover to TL 705 million.