ArabFinance: General Company for Paper Industry (Rakta) (RAKT) has turned to profitability during the first nine months of fiscal year (FY) 2021/2022, according to the company’s unaudited financial income statement filed to the Egyptian Exchange (EGX) on April 26^th.

The company recorded a net profit after tax of EGP 382.458 million in the nine-month period ended March 31^st, versus a net loss of EGP 74.85 million in the same period of FY 2020/2021.

It is worth noting that the company’s net profit stood at EGP 387.777 million during the period from July 1^st 2021 to February 28^th 2022, compared to a net loss of EGP 7.875 million in the comparative period a year earlier.

Rakta is an Egypt-based public shareholding company engaged in the production and distribution of printing and wrings papers, and multi-layered duplexes carton papers.