Cairo – Mubasher: The financial indicators of Nile Cotton Ginning showed a turn to net losses of EGP 3.05 million in the first quarter (Q1) of fiscal year 2020/2021, versus net profits of about EGP 467,172 in the year-ago period.

The company’s revenues increased to EGP 75,036 in the July-September period from EGP 9,130 in the corresponding period in FY19/20, according to a bourse disclosure on Monday.

During FY19/20, the company logged net profits of EGP 54.48 million, up from EGP 7.8 million a year earlier.