Cairo – The net profits attributable to the owners of Fawry for Banking Technology and Electronic Payments hiked by 127.40% to EGP 1.10 billion during the first nine months (9M) of 2024.

The recorded net profits were compared with EGP 486.54 million in 9M-23, according to the financial results.

Total revenues amounted to EGP 3.84 billion as of 30 September 2024, higher by 65.90% year-on-year (YoY) than EGP 2.31 billion.

Basic and diluted earnings per share (EPS) hit EGP 0.33 in 9M-24, compared to EGP 0.15 in 9M-23.

Financials for Q3-24

During the third quarter (Q3) of 2024, Fawry generated EGP 477.77 million in net profit after minority, higher by 134.80% YoY than EGP 203.48 million.

The group’s revenues jumped by 77% YoY to EGP 1.54 billion in July-September 2024 from EGP 873.15 million.

Quarterly, the Q3-24 net profits climbed by 48.50% from EGP 321.68 million in Q2-24, while the revenues increased by 27.50% from EGP 1.21 billion.

Ashraf Sabry, CEO of Fawry, commented: “The BNPL gross loan portfolio reached EGP 653 million as of 30 September 2024, with cumulative disbursements exceeding EGP 1 billion by the end of September.”

“Operationally, Fawry delivered exceptional performance in Q3-24, with mobile wallet transactions up by 54.10% YoY and total processed value via mobile wallets more than tripling to EGP 152.90 billion,” Sabry added.

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