EFIC posts 19% profit decline in Q1-24

Revenues surged 103% YoY to EGP 779.64 million in Q1-24 from EGP 383.40 million, according to unaudited financial indicators

Staff Writer, Mubasher

May 1, 2024

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Egyptian Financial and Industrial Company (EFIC) registered a 19% year-on-year (YoY) drop in net profit after tax to EGP 70.93 million in the first quarter (Q1) of 2024 from EGP 87.26 million.

Revenues surged 103% YoY to EGP 779.64 million in Q1-24 from EGP 383.40 million, according to unaudited financial indicators.

Earnings per share (EPS) plunged 56% YoY to EGP 44 in the three-month period that ended on 31 March 2024 from EGP 101.

In 2023, EFIC’s consolidated net profit hit EGP 700.34 million in 2023, down from EGP 755.85 million a year earlier.

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