Cairo – Mubasher: Elsewedy Electric Co reported a 70.58% year-on-year (YoY) hike in its consolidated net profits to EGP 1.74 billion in the first half (H1) of 2021, compared to EGP 1.025 billion, including minority shareholders' rights. 

The revenues increased to EGP 26.01 billion in the January-June period from EGP 20.11 billion in the prior-year period, the company said in a bourse disclosure on Tuesday. 

As for standalone business, the company posted net profits of EGP 55.97 million in H1-21, down from EGP 2.15 billion in H1-20. 

In the first quarter (Q1) of 2021, Elsewedy Electric Co. reported consolidated net profits of EGP 769.49 million, up from EGP 463.69 million in the year-ago period, including minority shareholders' rights.