Qalaa Holdings’ consolidated net profits attributable to the parent company surged by 9,780.6% year on year (YoY) in the first quarter (Q1) of 2024 to EGP 7.217 billion, compared to EGP 73.046 million, according to a statement.

Likewise, revenues rose to EGP 37.568 billion from January through March, versus EGP 25.942 billion over the same period of 2023.

As for the standalone results, the company recorded EGP 360.089 million in net profits after tax in Q1 2024, against net losses of EGP 927.775 million in Q1 2023.

Qalaa Holdings is an Egypt-based company engaged in private equity investment activities.

The company manages an investment portfolio that consists of 19 opportunity-specific funds and spans 14 industrial sectors such as energy, cement manufacturing, solid waste management, real estate, mining, agricultural, glass manufacturing, transportation, and metallurgy.

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