BIST 30 Records Surge in Earnings: Ereğli Up 415%, Tüpraş 320%, Garanti Bank Leads

The first half of 2026 reshaped the profitability landscape of BIST 30 constituents, highlighted by Ereğli's staggering 415.48% gain and Tüpraş's 320.12% rise.

Ereğli’s Annual Explosion

Ereğli disclosed its six‑month results, boosting net profit to TL 8.9 billion, a 415.48% increase. The share price rose 56.93% since the start of the year, while the number of holding funds fell from 159 to 152.

■Profit Growth: 415.48%

■Net Profit: TL 8.9 bn

■Share Performance: +56.93%

■Fund Count: 159 → 152

Tüpraş’s Refinery Margin Surge

Tüpraş lifted its net profit to TL 49.8 billion, driven by revenue gains; net refinery margin per barrel jumped from $6‑7 to $13‑15. The stock trades at a 9.71 P/E ratio.

■Profit Growth: 320.12%

■Net Profit: TL 49.8 bn

■Refinery Margin: $6‑7 → $13‑15

■P/E Ratio: 9.71

Garanti Bank’s Profitability Leadership

Within banking, Garanti Bank raised its profit by 18.83%, reaching TL 63.7 billion. The share price remains anchored around its July 2024 levels.

■Profit Growth: 18.83%

■Net Profit: TL 63.7 bn

■Price Level: July 2024

The Decliners: Ford Otosan and Turkish Airlines

Two heavyweight industrials, Ford Otosan and Turkish Airlines (THY), reported profit declines, reshaping investor risk appetite.

■Ford Otosan: Profit decline

■THY: Profit decline

Market Dynamics and Fund Flows

Fund flows have concentrated on Ereğli, with the reduction in fund count reflecting a hold‑strategy bias. Meanwhile, the SRL sustainability fund delivered an impressive 56.26% annual return.

■Fund Count (Ereğli): 159 → 152

■SRL Return: 56.26% YoY

■Assets Under Management: TL 259.54 million

Markets will now zero in on margin recoveries in energy and metals, as evidenced by Ereğli and Tüpraş’s results. Conversely, the profit pull‑backs at Ford Otosan and THY signal lingering global supply‑chain constraints. Investors should monitor sector rotation and fund‑flow trends closely to navigate the evolving landscape.