Telecom Egypt's Revenues Soar by 30% to EGP 42 Billion Over Nine Months
Telecom Egypt .. The Egyptian Company for Telecommunications has unveiled its financial results for the first nine months of 2023, showcasing a remarkable increase in revenues and net profits.
Significant Revenue Growth:
The telecommunications giant recorded a substantial 30% increase in consolidated revenues, reaching a striking total of EGP 41.95 billion during the nine-month period.
Comparison with Previous Year:
This revenue growth represents a significant leap from the EGP 32.27 billion reported during the same period in 2022, highlighting the company's upward trajectory in the telecommunications sector.
Net Profit Surge:
Net profits saw an impressive boost, jumping 42.3% to EGP 9.15 billion over the nine months, a considerable rise from the EGP 6.17 billion earned in the corresponding period of the previous year.
Standalone Financial Achievements:
The standalone financial statements of the Egyptian Company for Telecommunications also reflected positive growth, with net profits hitting EGP 6.14 billion, an 89% increase from the EGP 3.25 billion reported previously.
Finally:
The Egyptian Company for Telecommunications' financial performance over the past nine months signifies robust growth and a strong market position. With significant increases in both revenue and profits, the company demonstrates its capacity to thrive amidst the dynamic changes in the telecom industry.
