Cairo – Mubasher: Fawry for Banking Technology and Electronic Payments posted a 125.5% year-on-year (YoY) surge in its net profits to EGP 85.79 million in the first quarter (Q1) of 2021, compared to EGP 38.04 million, including minority shareholders’ rights.

The company’s operating revenues hiked to EGP 348.99 million in the January-March period, compared to EGP 257.99 million in the same period in 2020, according to a bourse disclosure on Sunday.

As for standalone business, the company achieved net profits of EGP 53.7 million in Q1-21, up from EGP 41.56 million in Q1-20.

During 2020, Fawry reported net profits of EGP 223.56 million, up from EGP 130.38 million a year earlier, including minority shareholder’s rights.