Cairo – Mubasher: Ezz Steel shifted to a consolidated net profit after tax of EGP 1.26 billion during the first quarter (Q1) of 2024, compared to a net loss of EGP 2.48 billion in the corresponding period a year earlier.

Consolidated net sales surged to EGP 50.16 billion in Q1-24 from EGP 27.84 billion in Q1-23, according to the interim finical results.

The company reported basic and diluted earnings per share (EPS) of EGP 1.71 in the three-month period that ended on 30 March 2024, versus a loss per share of EGP 3.12.

In 2023, Ezz Steel swung to a consolidated net loss of EGP 716.53 million, compared to a net profit of EGP 6.64 billion a year earlier.