Orascom Financial’s consolidated net profits drop 14.4% YoY in Q1
Updated 5/31/2023 9:16:00 AM
Arab Finance: Orascom Financial Holding (OFH) has recorded a 14.44% year-on-year (YoY) drop in consolidated net profit excluding minority interest in the first quarter (Q1) of 2023, reaching EGP 25.412 million, compared to EGP 29.701 million, according to the company’s consolidated financial income statement filed to the Egyptian Exchange (EGX) on May 31st.
The company has generated total operating revenue of EGP 917,000 in the three-month period ended March 31st.
As per the standalone financial income statement, Orascom Financial has achieved a net profit after tax of EGP 110.471 million during the January-March period of 2023, compared to EGP 86.075 million in the first three months of 2022.
Founded in 2020, OFH is a technology-driven financial service investment company. The company is traded on the EGX under the symbol OFH.CA
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