e-finance sees 76.5% surge in H1-22 profits

Cairo – Mubasher: The consolidated net profits of e-finance For Digital and Financial Investments skyrocketed by 76.50% year-on-year (YoY) in the first half (H1) of 2022 to EGP 486.52 million, compared to EGP 275.56 million, including minority shareholders’ rights.

Revenues for the six-month period ended 30 June 2022 amounted to EGP 1.26 billion, a 40% surge from EGP 904.36 million in the corresponding six-month period in 2021, according to a bourse filing on Tuesday. 

As for the standalone business, e-finance moved to a net profit of EGP 221.21 million in H1-22, versus a net loss of EGP 17.88 million in H1-21.

During the second quarter (Q2) of 2022, the company’s profit after non-controlling interest netted EGP 279.30 million, up 105% on an annual basis, whilst revenues came in at EGP 702.50 million, a YoY rise of 59%.

It is noteworthy to mention that in Q1-22, e-finance realised consolidated net profits worth EGP 198.29 million, an annual jump of 38.60% from EGP 143.09 million in Q1-21.

Mubasher Contribution Time: 16-Aug-2022 10:46 (GMT)
Mubasher Last Update Time: 16-Aug-2022 11:00 (GMT)