Arab Finance: Fawry for Banking Technology and Electronic Payment (FWRY) reported a 198% year-on-year (YoY) climb in consolidated profits attributable to the parent company in 2023 to EGP 715.339 million, compared to EGP 240.054 million, as per a filing.

Consolidated operating revenues surged to EGP 3.272 billion last year from EGP 3.229 billion the year before.

As for standalone financial results, the company’s net profit after tax soared to EGP 610.844 million in 2023 from EGP 177.785 million in 2022.

Meanwhile, standalone operating revenues went up to EGP 2.199 billion from EGP 1.492 billion.

Fawry is an Egypt-based company that provides an electronic payment network. The company allows users to pay bills in multiple channels, such as online, using automated teller machines, mobile wallets, and retail points.

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