Suez Canal for Technology Settling's consolidated profits up 70.02% YoY in Q2 FY2024/25
Updated 1/15/2025 9:20:00 AM
Arab Finance: Suez Canal Company for Technology Settling (SCTS) reported a 70.02% year-on-year (YoY) increase in consolidated net profits after tax attributable to the parent company for the second quarter (Q2) of the fiscal year (FY) 2024/2025, according to the financial statement filed to the Egyptian Exchange (EGX) on January 15th.
Net profits grow to EGP 924.139 million in the three-month period from EGP 543.556 million over the same period of FY 2023/2024.
Revenues went up to EGP 1.234 billion in the September-November period of 2024 from EGP 737.277 million during the corresponding period a year earlier.
The company garnered EGP 1.056 billion in standalone net profits after tax in Q2 FY 2024/2025, compared to EGP 716.121 million in Q2 of last FY.
Incorporated in 1996, the company offers IT educational services, establishes, manages, and operates activities for technology development zones, and scientific labs, in addition to research and training centers, as well as the provision of technology-related services. It has investments in October 6 University.
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