Cairo – Mubasher: Telecom Egypt posted on Monday a consolidated net loss of EGP 510 million for the fourth quarter of fiscal year 2016, compared to a consolidated net profit of EGP 860 million for Q4-15.
Consolidated net profit for fiscal year 2016 amounted to EGP 2.67 billion, 10.7% down from EGP 2.99 billion for FY15, according to a bourse filing.
Revenues for FY16 increased to EGP 14.13 billion from EGP 12.18 billion for 2015.
Standalone net profits rose in 2016 by 161.9% to EGP 3.39 billion, versus EGP 1.26 billion for 2015.
Consolidated foreign exchange earnings reached EGP 888 million in 2016, while standalone foreign exchange profits amounted to EGP 1.171 million.
