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Telecom Egypt generates lower profit in H1-22

Telecom Egypt generates lower profit in H1-22
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Telecom Egypt
ETEL
0.61% 16.65 0.10

Cairo – Mubasher: Net profits of Telecom Egypt came in at EGP 3.78 billion during the first half (H1) of 2022, compared to EGP 3.87 billion in the same period in 2021, including minority shareholders’ rights.

Earnings per share (EPS) amounted to EGP 2.22 in H1-22, compared to EGP 2.27 in H1-21, according to a bourse disclosure on Thursday.

Consolidated revenue landed at EGP 20.4 billion during the six-month period ended 30 June 2022, compared to EGP 17.37 billion in the same period a year earlier.

In the second quarter (Q2) of 2022, the EGX-listed company achieved net profits worth EGP 2.41 billion, up from EGP 1.74 billion in Q2-21.

Meanwhile, the company reported EGP 10.98 billion in Q2-22 revenue, compared to EGP 8.97 billion in the corresponding quarter in 2021.

In the January-March period in 2022, Telecom Egypt generated 36% lower consolidated net profits at EGP 1.36 billion, compared to EGP 2.12 billion Q1-21, including minority shareholders' rights.