ArabFinance: Mohandes Insurance (MOIN) reported a consolidated net profit after tax, excluding minority shareholders’ interest, of EGP 32.37 million during the first quarter (Q1) of fiscal year (FY) 2021/2022, according to the company’s financial statement filed to the Egyptian Exchange (EGX).

This marks a 32.5% drop as compared to the net profit of EGP 47.95 million recorded in Q1 FY 2020/2021.

It is worth noting that Mohandes Insurance previously posted a consolidated net profit attributable to the parent company of EGP 124.29 million in FY 2020/2021, compared to profits of EGP 149.56 million in FY 2019/2020.

Mohandes Insurance is an Egypt-based company that offers life and non-life insurance, and reinsurance products and services. Its products and services portfolio fall into two main insurance segments, namely individual insurance and property insurance.