Cairo – Mubasher: Elsewedy Electric reported a significant increase in its profits for the third quarter and the first nine months of 2016, a bourse statement revealed Wednesday in light of the consolidated results.
Q3 net profits jumped 153% year-on-year to EGP 746.6 million from EGP 295.34 million.
Net profit for the first nine months leapt 122.2% year-on-year to EGP 2.4 billion from EGP 1.08 billion.
Revenues reached EGP 15.4 billion during the nine-month period, compared with EGP 14.37 billion for the year-ago period.
On a standalone level, the company earned EGP 894.3 million, higher 491% year-over-year from EGP 151.24 million.
