NileSat posts 52.5% lower profits in Q1
Updated 5/12/2022 8:15:00 AM
ArabFinance: Egyptian Satellites (NileSat) (EGSA) has reported a 52.48% year-on-year (YoY) decline in net profits from ongoing operations during the first quarter (Q1) of 2022, recording $7.275 million according to financial statements filed to the Egyptian Exchange (EGX) on Wednesday.
The company’s operating revenue also decreased by 19.07% YoY in the three-month period ended March 31st 2022.
NileSat is an Egypt-based public shareholding company that offers services related to satellite radio and television broadcasting, in addition to the broadband internet.
The company has a booking center that provides a range of services including satellite newsgathering as well as feed and turnaround services, in addition to a training center.
