Cairo – Mubasher: Telecom Egypt logged consolidated net profits valued at EGP 11.47 billion in 2023, an annual leap from EGP 9.18 billion, including non-controlling interest.
Basic and diluted earnings per share (EPS) hit EGP 5.70 last year, higher than EGP 4.61 in 2022, according to the financial results.
The firm generated EGP 56.67 billion in revenue during 2023, marking a raise from EGP 44.27 billion in 2022.
Total assets amounted to EGP 150.64 billion at the end of 2023, versus EGP 119.23 billion as of 31 December 2022.
Standalone Financials
The standalone net profits after income tax reached EGP 6.38 billion in the 12-month period that ended on 31 December 2023, down year-on-year (YoY) from EGP 7.34 billion.
Operating revenues hiked to EGP 43.69 billion last year from EGP 32.91 billion in 2022, while the EPS dropped to EGP 3.19 from EGP 3.83.
As of 30 September 2023, Telecom Egypt registered YoY higher consolidated net profits at EGP 9.15 billion, compared to EGP 6.17 billion in 9M-22, including minority interest.
