PHOTO
A general view of the Egyptian stock exchange in Cairo August 18, 2013. Egypt's stock market fell sharply on Sunday as it resumed trading after hundreds of people were killed in a crackdown by the army-backed government on supporters of the Muslim Brotherhood. Banks and the stock market reopened for the first time since Wednesday's carnage, with shares rapidly falling 2.5 percent. REUTERS/Louafi Larbi (EGYPT - Tags: POLITICS CIVIL UNREST BUSINESS) - RTX12PJU
Egyptian Financial and Industrial’s (EFIC) net profit after tax ballooned 385% year-on-year (YoY) in the first quarter (Q1) of 2022, according to financial indicators filed to the Egyptian Exchange (EGX) on April 28th.
Net profit after tax registered over $5mln (EGP 98.364mln) in Q1 2022, compared to a profit of over $1mln (EGP 20.296mln) in the same quarter of 2021.
The company’s revenue surged 68% YoY to over $16mln (EGP 308.672mln) in the three-month ended March 31st from $9mln (EGP183.57mln).
EFIC is an Egypt-based company involved in the production and marketing of agricultural chemicals. The company focuses on the production and distribution of chemical resources and agricultural fertilizers, as well as the production of plastic and general bags to fill up its products.
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