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NileSat's profit drops 7% in H1-21

NileSat's profit drops 7% in H1-21
NileSat's revenues declined to $59.49 million
Nilesat
EGSA
0.43% 6.96 0.03

Cairo - Mubasher: The Egyptian Satellites Co (NileSat) achieved net profits of $18.19 million in the first half (H1) of 2021, down by 7% year-on-year (YoY) from $19.56 million. 

NileSat's revenues declined to $59.49 million in the January-June period, compared to $63.78 million in the prior-year period, according to a bourse disclosure on Tuesday. 

During the first quarter (Q1) of 2021, the company logged net profits of $15.31 million, up from $10.8 million in Q1-20. 

The revenues fell to $30.95 million in the January-March period from $32.36 million in the corresponding period a year earlier.