Cairo – Mubasher: Telecom Egypt achieved consolidated net profits valued at EGP 8.64 billion in the first nine months (9M) of 2024, compared to EGP 9. 15 billion in 9M-23.
Operating revenues hit EGP 58.43 billion as of 30 September 2024, an annual leap from EGP 41.95 billion, according to the consolidated financial results.
Basic and diluted earnings per share (EPS) fell to EGP 5.06 in 9M-24 from EGP 5.36 in 9M-23.
Standalone Financials
Telecom Egypt registered EGP 5.88 billion in net profit after tax during January-September 2024, down year-on-year (YoY) from EGP 6.58 billion.
Non-consolidated operating revenues climbed to EGP 43.02 billion in 9M-24 from EGP 32.37 billion a year earlier, while the basic and diluted EPS dropped to EGP 3.45 from EGP 3.86.
Financials for Q3-24
In the third quarter (Q3) of 2024, the telecom group’s consolidated net profit amounted to EGP 2.13 billion, versus EGP 2.45 billion in Q3-23.
Revenues jumped to EGP 20.47 billion from EGP 13.82 billion, while the profit per share plummeted to EGP 1.25 from EGP 1.44.
During the first half (H1) of 2024, Telecom Egypt generated consolidated net profits worth EGP 6.51 billion, lower than EGP 6.69 billion in H1-23.
