The net profits after tax of Misr National Steel (Ataqa) plunged to EGP 60.91 million in the first quarter (Q1) of 2024 from EGP 128.81 million.

Revenues amounted to EGP 1.01 billion in Q1-24, higher year-on-year (YoY) than EGP 399.50 million, according to the financial results.

The basic earnings per share (EPS) dropped to EGP 0.05 as of 31 March from EGP 0.10 in Q1-23.

Total assets stood at EGP 3.55 billion in Q1-24, versus EGP 2.46 billion at the end of December 2023.

In 2023, Ataqa posted higher net profits after tax at EGP 734.86 million, compared to EGP 234.72 million a year earlier.

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