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Egytrans’ net profit plunges 79% in Q1

Egytrans’ net profit plunges 79% in Q1

ArabFinance: Egyptian Transport and Commercial Services Company (Egytrans) (ETRS) posted a year on year (YoY) plummet of 79% in net profit after tax during the first quarter (Q1) of 2020, according to a disclosure to the EGX.

Egytrans achieved EGP 3.68 million in Q1 2020 when compared to EGP 17.55 million in Q1 2019.

Earnings per share stood at EGP 0.11, compared to EGP 0.56.

Revenues shrank by 39.5% to EGP 53.81 million in the first three months of 2020 from EGP 89.02 million in the same period a year earlier.

Ad for the standalone income statement, Egytrans registered a decline of 49% YoY in net profit after tax.

Earnings amounted to EGP 12.09 million in Q1 2020, compared to EGP 23.73 million in Q1 2019.

The revenues also decreased by 38.8% to EGP 48.64 million from EGP 79.48 million.  

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