Cairo – Mubasher: The consolidated financial results of Mohandes Insurance showed a 24.97% year-on-year profit increase during the first quarter of the fiscal year 2019/2020.

The insurer’s net profit went up to EGP 49.45 million from July to September 2019, compared to EGP 39.57 million in the year-ago period, according to a bourse statement released on Wednesday.

Meanwhile, the insurance activity surplus increased to EGP 64.3 million in the three-month period ended 30 September, compared to EGP 45.2 million the year before.

It is worth mentioning that Mohandes’ standalone profit dropped 43.5% YoY to EGP 30 million in Q1-19/20.