Arab Finance: Misr Hotels Company (MHOT) reported a 49.86% year-on-year (YoY) hike in net profit for the first quarter (Q1) of fiscal year (FY) 2023/2024, according to the company’s financial income statement filed to the Egyptian Exchange (EGX) on October 31^st.

The company has achieved a net profit after tax of EGP 189.988 million in the three-month period ended September 30th, compared to EGP 126.773 million in Q1 FY 2022/2023.

Moreover, the company generated revenues of EGP 300.419 million in Q1 FY 2023/2024, compared to EGP 159.913 million in the same quarter a FY earlier, with an annual growth of 87.86%.

Misr Hotels is an Egypt-based joint stock company engaged in tourism investment activities.

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