Cairo – Mubasher: Raya Holding for Technology and Communications reported a 190% increase in its consolidated net profit for the second quarter of 2016, according to a bourse filing.

The company earned EGP 42.32 million ($4.75 million) in Q2-16, compared to EGP 14.58 million profits ($1.63 million) registered in Q2-15.

During the first six months, net profit rose to EGP 41.7 million from EGP 39.4 million recorded in H1-15.

The standalone results revealed that the company registered EGP 113.9 million in the first six-month, compared to EGP 39.4 million for the year-ago period.

In the first quarter, consolidated net profits stood at EGP 553,600 ($62,000).