Egypt's TAQA Arabia’s consolidated profits up 16% YoY in Q1 2024

Revenues grew 22% YoY to EGP 3.577 billion from EGP 2.938 billion

Staff Writer, Arab Finance

May 9, 2024

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TAQA Arabia reported a 16% year-on-year (YoY) increase in consolidated net profits after tax in the first quarter (Q1) of 2024, according to a filing on May 9th.

The company earned net profits of EGP 102.779 million in the January-March period, compared to EGP 88.38 million over the corresponding period of 2023.

Revenues grew 22% YoY to EGP 3.577 billion from EGP 2.938 billion.

As far as standalone financials are concerned, the company saw a 22% yearly surge in net profits after tax in Q1 2024, reaching EGP 174.849 million from EGP 143.35 million.

Similarly, standalone revenues rose to EGP 180.643 million in Q1 2024, up 10% from EGP 163.859 million in Q1 2023.

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