Arab Finance: Cairo Housing and Development Company (ELKA) has garnered consolidated net profits attributable to the parent company worth EGP 1.149 billion during the first quarter (Q1) of 2024, versus net losses of EGP 7.256 million, according to the financial statements filed to the Egyptian Exchange (EGX) on June 9^th.

Consolidated operating revenue rose to EGP 111.922 million in the three-month period ended March 31st from EGP 76.797 million in the year-ago period.

Moreover, the company reported a standalone net profit after tax of EGP 1.177 billion in the January-March period of 2024, against net loss of EGP 3.659 million during the same period a year earlier.

Cairo Housing is an Egypt-based firm engaged in real estate and housing development operations.

The listed company’s main activities include acquiring, selling, and leasing lands and buildings as well as city planning and infrastructure construction activities.

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