Egypt Gas’ profits skyrocket 1,200.8% YoY in Q1
Updated 5/31/2022 10:35:00 AM
Arab Finance: Egypt Gas (EGAS) reported a 1,200.8% year-on-year (YoY) surge in net profit after tax for the first quarter (Q1) of 2022, according to the financial income statement filed to the Egyptian Exchange (EGX) on May 31st.
Net profit after tax stood at EGP 75.88 million in Q1 2022, versus EGP 5.83 million in Q1 2021.
Operating revenues amounted to EGP 1.25 billion in the three-month period ended March 31st, up to EGP 978.97 million in the same quarter last year.
In 2021, the company achieved a net profit after tax of EGP 165.828 million, up from EGP 84.665 million in 2020.
Egypt Gas is an Egypt-based shareholding company engaged in the design, installation, operation, and maintenance of natural gas distribution networks and pressure reduction stations for domestic, commercial, and industrial applications.
