Cairo – Mubasher: Telecom Egypt gained EGP 6.17 billion in net profits during the first nine months (9M) of 2022, an increase of 1.14% when compared to EGP 6.10 billion in the same period in 2021, including minority shareholders’ rights.

The company’s revenues amounted to EGP 32.27 billion during 9M-22, compared to EGP 26.37 billion in 9M-21, according to a stock exchange statement on Monday.

As for the separate results, the telecom operator logged net profits after income tax worth EGP 3.25 billion during the January-September 2022 period, down from EGP 6.27 billion in the year-ago period.

During this year’s third quarter (Q3), the EGX-listed company achieved higher net profits at EGP 2.39 billion, compared to EGP 2.22 billion in Q3-21. Revenues skyrocketed to EGP 11.87 billion in Q3-22, compared to EGP 9 billion in Q3-21.

Over the first half (H1) of 2022, the net profits of Telecom Egypt came in at EGP 3.78 billion, compared to EGP 3.87 billion in the same period in 2021, including minority shareholders’ rights.