Arab Finance: Egyptian Satellites (NileSat) reported a 14.7% year-on-year (YoY) decline in net profits after tax in the first quarter (Q1) of 2024, according to a financial statement.

Net profits came in at $6.383 million in Q1 2024, down from $7.479 million in Q1 2023.

Meanwhile, operating revenues slipped to $25.447 million from $25.585 million.

NileSat is an Egypt-based public shareholding company that offers services related to satellite radio and television broadcasting, in addition to broadband internet.

The company has a booking center that provides a range of services including satellite newsgathering as well as feed and turnaround services, in addition to a training center.

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