Cairo – Mubasher: The net profits of Fawry for Banking Technology and Electronic Payments surged by 135.5% year-on-year (YoY) to EGP 85.9 million in the first half (H1) of 2020 from EGP 36.47 million.

Fawry’s revenues hiked to EGP 549.26 million in the January-June period from EGP 373.33 million in the same period in 2019, according to a bourse disclosure on Sunday.

As for the second quarter (Q2) of 2020, the e-payment company achieved net profits of EGP 47.9 million, up from EGP 15.5 million in Q2-19.

In addition, the standalone financial statements for H1-20 showed net profits of EGP 73.21 million, compared to EGP 40.19 million in the year-ago period.

During Q1-20, Fawry reported net profits of EGP 38.04 million, up from EGP 20.9 million in the corresponding period a year earlier.