Cairo – Mubasher: Telecom Egypt posted consolidated net profits of EGP 2.12 billion in the first quarter (Q1) of 2021, up by 61.84% year-on-year (YoY) from EGP 1.31 billion.
The telecom operator generated EGP 8.4 billion in revenue in the January-March period, up from EGP 7 billion in the prior-year period, according to a bourse disclosure on Tuesday.
As for standalone business, the company recorded net profits of EGP 1.85 billion in Q1-21, compared to EGP 566.91 million in Q1-20.
In 2020, Telecom Egypt’s net profits increased by 10% year-on-year (YoY) to EGP 4.9 billion.
