Fawry records 127.43% surge in consolidated profits in 9 months
Updated 11/17/2024 9:19:00 AM
Arab Finance: Fawry for Banking Technology and Electronic Payment (FWRY) reported a 127.43% year-on-year (YoY) climb in consolidated profit attributable to the parent company during the first nine months of 2024, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on November 17th.
The company’s consolidated profit excluding minority interest rose to EGP 1.106 billion in the nine-month period from EGP 486.541 million in the year-ago period.
Consolidated operating revenues surged to EGP 3.845 billion in the nine months ended September 30th from EGP 2.317 billion in the same period a year earlier.
As for standalone financial results, the company’s net profit after tax soared to EGP 984.972 million in the first nine months of 2024 from EGP 441.823 million in the corresponding period of 2023.
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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