Cairo – Mubasher: Raya Contact Center on Tuesday announced a 401% jump in its profits for the first quarter of 2017 due to higher revenues and foreign exchange gains.
Raya achieved profits of EGP 40.2 million in Q1-17, compared to EGP 8.02 million in the year-ago-period, taking into consideration minority shareholders, according to a filing to the Egyptian Exchange (EGX).
Year-on-year, revenues surged to EGP 174.1 million from EGP 92.83 million.
The firm achieved foreign exchange gains of EGP 796,300 in Q1-17, against losses of EGP 6.9 million in the same period in the year earlier.
Raya’s standalone profits soared 172% to reach EGP 19.09 million in Q1-17, compared to EGP 7.01 million in the corresponding quarter in the year before.
The EGX-listed company had previously achieved profits of EGP 118.45 million in 2016, compared to EGP 30.1 million in 2015.
Raya Contact Center’s stock closed on Monday at EGP 16.50, after gaining 0.73%.
