Cairo – The consolidated net profits after tax of TAQA Arabia increased by 6% year-on-year (YoY) to EGP 364.98 million in the first nine months (9M) of 2023 from EGP 343.38 million.

The company generated revenues amounting to EGP 9.78 billion in 9M-23, higher by 28% than EGP 7.65 billion in 9M-22, according to the consolidated financial statements.

Basic earnings per share (EPS) hit EGP 0.27 in the January-September 2023 period, versus EGP 0.25 a year earlier.

Standalone Business

TAQA Arabia posted standalone net profits after tax valued at EGP 96.07 million in 9M-23, an annual leap of 31% from EGP 73.39 million.

Non-consolidated revenues hiked by 62% to EGP 218.65 million as of 30 September 2023 from EGP 134.99 million in 9M-22, while the basic EPS increased to EGP 0.07 from EGP 0.05.

In the first half (H1) of 2023, the listed firm recorded a 13% YoY lower consolidated net profit after tax at EGP 167.27 million, compared to EGP 192.35 million.

Investment Project in Tanzania​

TAQA Dalbit Company, owned by TAQA Arabia, launched the first integrated (CNG) refueling station and conversion centre for vehicles under the Master Gas brand in Tanzania.

The project marks the first in a series of 12 stations that will be inaugurated during the coming years by TAQA Dalbit with investments estimated at $10 million, according to a bourse disclosure.

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