AT Lease reports 64.5% YoY fall in Q1 consolidated profit
Updated 5/12/2022 12:37:12 PM
ArabFinance: Al Tawfeek Leasing Company (AT LEASE) (ATLC) reported a 64.51% year-on-year (YoY) decline in consolidated net profit attributable to the parent company for the first quarter (Q1) of 2022, according to the company’s consolidated financial statement filed to the Egyptian Exchange (EGX) on May 12th.
The company recorded a consolidated net profit excluding minority interest of EGP 26.17 million in Q1 2022, compared to a profit of EGP 73.75 million in the year-ago period.
Total consolidated operating revenue amounted to EGP 165.68 million in the three-month period ended March 31st, down from EGP 129.60 million in Q1 2021.
Similarly, the company’s standalone net profit after tax fell to EGP 26.18 million in Q1 2022 from EGP 73.73 million in the same quarter of 2021, according to the company’s standalone financial statement.
In 2021, AT LEASE had achieved a consolidated net profit attributable to the parent company of EGP 134.06 million, up from EGP 74.13 million in 2020.
AT LEASE is an Egypt-based Islamic sharia-compliant leasing company, which provides a variety of international leasing solutions and products.
