Cairo – Mubasher: Elsewedy Electric Company’s consolidated profits for the first quarter of fiscal year 2017 increased by 100.4% to EGP 1.54 billion, compared to EGP 768.7 million for Q1-16.

Consolidated revenues rose in Q1-17 by 108.5% to EGP 9.78 million, versus EGP 4.69 billion for Q1-16, according to a bourse filing released on Tuesday.

Cost of revenue reached EGP 7.26 billion in Q1-17, compared to EGP 3.7 billion in Q1-16.

Standalone net profit for the first three months of FY17 grew 375% to EGP 115.04 million from EGP 24.2 million for the same period last year.