Cairo – Mubasher: The Egyptian Satellites Company (NileSat) has recorded net profits of $7.27 million during the first quarter (Q1) of 2022, lower than $15.30 million in Q1-21.

Revenues settled at $25.04 million in the first three months (3M) of 2022, compared to $30.95 million during the same period a year earlier, according to the unaudited financial results in a bourse disclosure on Wednesday.

During the January-December 2021 period, the company logged net profits worth $30.75 million, lower than $34.15 million in 2020.

Meanwhile, In the first nine months (9M) of 2021, NileSat registered net profits worth $20.30 million, down 22% from $26.07 million in 9M-20.