Cairo – Mubasher: Telecom Egypt posted higher consolidated net profits at EGP 9.15 billion in the first nine months (9M) of 2023, compared to EGP 6.17 billion in 9M-22, including minority interest.
Basic and diluted earnings per share (EPS) reached EGP 5.36 in January-September 2023, up year-on-year (YoY) from EGP 3.61, according to the consolidated financial statements.
Revenues amounted to EGP 41.95 billion in 9M-23, an annual hike from EGP 32.27 billion.
Total assets enlarged to EGP 137.95 billion as of 30 September 2023 from EGP 119.23 billion as of 31 December 2022.
Standalone Business
The telecom firm recorded standalone net profits after tax valued at EGP 6.14 billion in 9M-23, compared to EGP 3.25 billion in the year-ago period.
The listed company generated revenues standing at EGP 32.37 billion as of 30 September 2023, marking an annual surge from EGP 24.01 billion.
Basic and diluted EPS stood at EGP 3.60 in 9M-23, higher YoY than EGP 1.90.
Financials for Q3-23
During the third quarter (Q3) of 2023, the consolidated net profits hit EGP 2.45 billion, versus EGP 2.39 billion in Q3-22, including non-controlling interest.
The revenues widened to EGP 13.82 billion in Q3-23 from EGP 11.87 billion a year earlier, while the basic and diluted EPS edged up to EGP 1.44 from EGP 1.40.
Non-consolidated net profits after tax dropped to EGP 416.83 million in July-September 2023 from EGP 655.64 million in Q3-22, while the revenues hiked to EGP 10.47 billion from EGP 8.99 billion.
In the first half (H1) of 2023, Telecom Egypt logged consolidated net profits attributable to the shareholders valued at EGP 6.69 billion, compared to EGP 3.78 billion in H1-22.
Earlier in October this year, the listed company was among the four telecom firms operating in Egypt to allow free international calls and messages to Gaza.
