Cairo – Mubasher: Misr Refrigeration and Air Conditioning Manufacturing (Miraco) posted on Tuesday a consolidated net profit of EGP 241.73 million for the first quarter of fiscal year 2017, surging 2,431% compared to EGP 9.54 million for Q1-16.

Sales increased in Q1-17 to EGP 625 million from EGP 371 million in Q1-16, according to a bourse filing.

Standalone net profits soared in Q1-17 by 2,251% to EGP 213.5 million from EGP 9.08 million for Q1-16.

The stock fell on Monday by 2.20% to EGP 52.81.