Al Tawfeek Leasing Company (A.T. Lease) reported a 7.3% year-on-year (YoY) increase in consolidated net profits, excluding minority shareholders' rights, for the first quarter (Q1) of 2024, earning EGP 38.841 million, versus EGP 36.184 million, a disclosure revealed.

Total operating revenues reached EGP 314.139 million from January through March this year, compared to EGP 232.071 million over the same period the year prior.

Likewise, the company’s standalone net profits after tax rose to EGP 38.738 million in Q1 2024 from EGP 36.029 million in Q1 2023.

Meanwhile, standalone operating revenues climbed to EGP 314.083 million from EGP 232.028 million.

Established in 2005, the company provides a variety of international innovative leasing solutions using the provisions of Islamic Shariaa and according to the best international standards. The Company offers its products under the categories of financial lease/capital, true lease, structured lease, and vendor lease.