Cairo - Mubasher: The consolidated net profit after the non-controlling interest (NCI) of e-finance for Digital and Financial Investments leapt by 64% year-on-year (YoY) to EGP 462.50 million in the first quarter (Q1) of 2024 from EGP 281.90 million.
Total consolidated revenues surged by 49.60% YoY to EGP 1.14 billion in Q1-24 from EGP 768 million in Q1-23, according to a press release.
The basic earnings per share (EPS) hit EGP 0.18 in the three-month period that ended on 31 March 2024, up from EGP 0.12 in the corresponding period in 2023.
Standalone Results
e-finance’s standalone net profit after tax grew to EGP 546.66 million in the January-March period from EGP 327.94 million in the equivalent quarter of last year.
Standalone revenues increased to EGP 528.61 million in Q1-24 from EGP 308.46 million in Q1-23.
Chairman Message
Ibrahim Sarhan, Chairman of e-finance, said: “As we head further into the new year, I am positive that e-finance will continue to showcase our commitment to excellence as well as leverage its dynamic and resilient business model.”
“The impressive operational and bottom-line results achieved during 1Q-24 underscore our adeptness to capitalise on the group’s high margin revenue streams, alongside management's diligent and successful execution of sound investment decisions and diversification efforts,” Sarhan added.
He said: “Through our broad network of partnerships, innovative solutions, and strong business model, we are strategically positioned to seize opportunities and propel growth. Looking ahead, we are enthusiastic about the prospects awaiting us, and I remain optimistic about our future trajectory.”
In 2023, e-finance logged a 56.40% YoY jump in consolidated net profit after the NCI to EGP 1.25 billion from EGP 803.90 million.
