Cairo – Mubasher: The Egyptian Satellites Co (NileSat) logged net profits of $20.3 million in the first nine months of 2021, a drop of 22% year-on-year (YoY) from $26.07 million. 

The company generated $86.66 million in revenue in the January-September period, down from $93.89 million in the year-ago period, according to a bourse disclosure on Tuesday. 

In the first half (H1) of 2021, NileSat reported net profits of $18.19 million, down from $19.56 million in H1-20.