Arab Finance: Misr Hotels Company (MHOT) reported a 92.08% year-on-year (YoY) hike in net profit for the first quarter (Q1) of fiscal year (FY) 2022/2023, according to the company’s financial income statement filed to the Egyptian Exchange (EGX) on November 13th.
The company has achieved a net profit after tax of EGP 126.77 million in the three-month period ended September 30th, compared to EGP 66 million in Q1 FY 2021/2022.
Moreover, the company generated revenues of EGP 159.91 million in Q1 FY 2022/2023, up from EGP 112.18 million in the same quarter a FY earlier.
Misr Hotels is an Egypt-based joint stock company engaged in tourism investment activities.