ArabFinance: Alexandria Mineral Oils Company (AMOC) reported an 818% year-on-year surge in consolidated net profit after tax for the first quarter (Q1) of fiscal year (FY) 2021/2022, according to the companys financial indicators filed to the Egyptian Exchange (EGX).

Consolidated net profit after tax grew to EGP 229.66 million in Q1 FY 2021/2022 from EGP 31.98 million in the year-ago period.

Consolidated revenue amounted to EGP 3.72 billion in the three-month ended September 2021, up by 86% from EGP 2 billion in the same period of 2020.

Meanwhile, standalone net profit after tax of EGP 194.58 million in Q1 FY 2021/2022, versus a net loss of EGP 53.26 million in Q1 FY 2020/2021.

AMOC is an Egypt-based company that operates in the petroleum industry. The company specializes in the production of essential mineral oils, paraffin wax and its derivatives, naphtha, and butane, as well as distributes and markets them in Egypt and abroad.

Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.