Cairo – Mubasher: Fawry for Banking Technology and Electronic Payments recorded consolidated net profits after tax worth EGP 192.93 million in the first nine months (9M) of 2022, down from EGP 193.73 million in 9M-21, including non-controlling interest.

The revenues amounted to EGP 1.62 billion in 9M-22, higher than EGP 1.19 billion in the year-ago period, according to the income statements.

Earnings per share (EPS) plummeted to EGP 0.05 in 9M-22 from EGP 0.12 in 9M-21.

In the third quarter (Q3) of 2022, the net profits after tax increased to EGP 94.89 million from EGP 56.58 million in Q3-21, while the revenues surged to EGP 613.71 million from EGP 448.27 million.

Standalone Business

Fawry registered EGP 87.70 million standalone net profits after tax in January-September 2022, lower than EGP 112.83 million during the same period in the previous year.

The non-consolidated revenues surged to EGP 1.05 billion in 9M-22 from EGP 818.58 million in 9M-21, whereas the standalone EPS went down to EGP 0.04 in 9M-22 from EGP 0.09.

In Q3-22, the net profits after tax enlarged to EGP 47.07 million from EGP 22.30 million in Q3-21, while the revenues grew to EGP 393.58 million from EGP 296.82 million.

During the January-June 2022 period, Fawry posted a 28.50% year-on-year (YoY) decline in consolidated net profit to EGP 98.04 million from EGP 137.15 million, including minority shareholders’ rights.