Egypt: NileSat’s net profits rise in Q1-23 financial results

The total assets reached $636.60 million in Q1-23

Staff Writer, Mubasher

May 28, 2023

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The net profits from continuing operations of the Egyptian Satellites Company (NileSat) hit $7.47 million in the first quarter (Q1) of 2023, up from $7.27 million in Q1-22.

Revenues grew to EGP 25.58 million in Q1-23 from EGP 25.04 million as of 31 March 2022, according to the income statements.

During the first three months (3M) of 2023, the basic earnings per share (EPS) amounted to $0.20, higher than $0.19 in the year-ago period.

The total assets reached $636.60 million in Q1-23, compared to $649.88 million as of 31 December 2022.

In the first nine months (9M) of 2022, NileSat posted net profits valued at $30.24 million, a 48.90% year-on-year (YoY) leap from $20.30 million.

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