Cairo – Electro Cable Egypt generated EGP 202.17 million in consolidated net profit after tax during the first quarter (Q1) of 2023, up from EGP 71.53 million in Q1-22, including minority interest.
The sales widened to EGP 1.53 billion in January-March 2023 from EGP 1.06 billion in the year-ago period, according to income statements.
Earnings per share (EPS) stood at EGP 0.06 in Q1-23, higher than EGP 0.02 as of 31 March 2021.
The standalone net profits after tax amounted to EGP 60.14 million during the first three months (3M) of 2023, marking a year-on-year (YoY) surge from EGP 24.03 million.
Non-consolidated sales jumped to EGP 972.89 million in Q1-23 from EGP 636.97 million in Q1-22, while the EPS hiked to EGP 0.01 from EGP 0.006.
During the 12-month period that ended on 31 December 2022, Electro Cable Egypt registered a YoY increase in consolidated net profit after tax to EGP 542.24 million from EGP 224.62 million, including non-controlling equity.
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