Cairo – Mubasher: Telecom Egypt posted on Monday a year-on-year increase of 5.5% in its consolidated net profit for the first quarter of fiscal year 2017.
Consolidated net profit for Q1-17 reached EGP 1.34 billion, compared to EGP 1.27 billion for Q1-16, according to a statement to the Egyptian Exchange (EGX).
Consolidated revenues grew by 36.7% in Q1-17 to EGP 4.19 billion from EGP 3.06 billion for Q1-16.
Total revenues from investments in Vodafone Egypt amounted to EGP 675 million in the first three months of FY17, rising 81.4% year-on-year.
Standalone net profits declined in Q1-17 by 7.9% to EGP 757.29 million, compared to EGP 822.02 million for Q1-16.
Standalone revenues increased in Q1-17 to EGP 3.58 million from EGP 2.58 million for Q1-16.
