Egypt: OIH’s consolidated profits soar 242% YoY in Q1 2024

OIH is an Egypt-based holding company engaged in the telecommunications sector

Staff Writer, Arab Finance

July 4, 2024

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Orascom Investment Holding (OIH) reported a 241.8% year-on-year (YoY) increase in consolidated net profits attributable to the parent company in the first quarter (Q1) of 2024, according to the financial statement on July 4th.

Net profits came in at EGP 353.268 million in Q1 2024, compared to EGP 103.369 million in Q1 2023.

On the other hand, the company’s loss in revenues amounted to EGP 241.564 million in the three-month period, up from EGP 24.735 million in the corresponding period a year earlier.

OIH, formerly Orascom Telecom Media and Technology Holding, is an Egypt-based holding company engaged in the telecommunications sector.

It is mainly engaged in global systems for mobile communications, media and technology, cable, energy, financial, real estate, and entertainment businesses.

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