Mubasher TV
Contact Us Advertising   العربية

Fawry's net profits leap in Q1-23 interim results

Fawry's net profits leap in Q1-23 interim results
Photo Archive
1.51% 5.38 0.08

Cairo – Mubasher: Fawry for Banking Technology and Electronic Payments generated EGP 142.05 million in consolidated net profit after tax during the first quarter (Q1) of 2023, including minority interest.

The registered net profits were higher than EGP 47.83 million in Q1-22, according to the interim income statements.

Basic and diluted earnings per share (EPS) increased to EGP 0.04 as of 31 March 2023 from EGP 0.02 in the year-ago period.

The operating revenues amounted to EGP 675.69 million in the first three months (3M) of 2023, an annual rise from EGP 482.99 million.

Meanwhile, the total assets jumped to EGP 6.79 billion during Q1-23 from EGP 6.42 billion as of 31 December 2022.

Standalone Financial Results

The EGX-listed firm posted a year-on-year (YoY) hike in standalone net profit after tax to EGP 140.09 million during the January-March 2023 period from EGP 38.63 million.

Non-consolidated operating revenues increased to EGP 459.75 million in Q1-23 from EGP 317.69 million as of 31 March 2022.

Last year, Fawry logged consolidated net profits after tax valued at EGP 327.05 million, up from EGP 242.12 million in 2021, including minority shareholders' rights.