Cairo –  Alexandria Mineral Oils Company (AMOC) reported consolidated net profits of EGP 398.60 million during the first quarter (Q1) of fiscal year (FY) 2022/2023, a jump of 74% from EGP 229.60 million in the year-ago quarter.

The company’s sales registered EGP 5.94 billion in Q1 of FY22/23, an increase from EGP 3.72 billion in the same quarter in FY21/22, according to a bourse statement on Thursday.

As for the standalone profits, AMOC achieved EGP 346.30 million in profits over Q1 of FY22/23, compared to EGP 194.50 million in the year-ago period.

During FY21/22, AMOC’s consolidated net profits surged by 144.3% to EGP 1.23 billion, compared with EGP 499 million in FY20/21, including minority shareholders’ rights.

The company’s sales amounted to EGP 18.4 billion in FY21/22, up from EGP 10.2 billion in the previous FY.

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