Abu Dhabi-listed Emirates Driving Company saw its profit surge by approximately 60 percent during the first quarter of the year on the back of higher revenue.
Profit for the three months ended March 31, 2022 reached more than 75.6 million dirhams ($20.58 million), compared to 47.2 million dirhams in the same period last year, according to a filing on the Abu Dhabi Securities Exchange (ADX) on Wednesday.
Total revenue for the period rose from 64.7 million dirhams to 76.2 million dirhams. However, rental income fell from 1.38 million dirhams to 1.2 million dirhams.
(Reporting by Cleofe Maceda; editing by Daniel Luiz )