Ataqa’s profits tumble 53% YoY in Q1 2024

The company recorded net profits of EGP 60.912 million in Q1 2024, versus EGP 128.817 million in Q1 2023

Staff Writer, Arab Finance

May 29, 2024

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Misr National Steel’s (Ataqa) net profits after tax dropped 52.7% year on year (YoY) in the first quarter (Q1) of 2024, according to the company’s financial statement.

The company recorded net profits of EGP 60.912 million in Q1 2024, versus EGP 128.817 million in Q1 2023.

Sales hiked to EGP 1.013 billion in the three-month period ended March 31st from EGP 399.508 million in the same quarter last year.

Ataqa is an Egypt-based company engaged in the manufacture of reinforced steel bars according to Egyptian and international standards in different sizes and thicknesses.

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