Cairo – Mubasher: The standalone net profits after tax of Egyptian Financial and Industrial Company (EFIC) reached EGP 87.26 million in the first quarter (Q1) of 2023, an annual drop of 11% from EGP 98.36 million.

Non-consolidated revenues enlarged by 24% to EGP 383.40 million during January-March 2023, compared with EGP 308.67 million in Q1-22, according to the income statements.

The basic earnings per share (EPS) amounted to EGP 1.01 in Q1-23, down 11% year-on-year (YoY) from EGP 1.13.

Last year, the EGX-listed firm logged standalone net profits after tax valued at EGP 489.94 million, higher than EGP 208.71 million in the January-December 2021 period.

As for the consolidated business, the company’s net profits after tax climbed to EGP 755.85 million in 2022 from EGP 304.18 million a year earlier.