Cairo – Mubasher: Elsewedy Electric Co generated consolidated net profits of EGP 3.33 billion in the first nine months of 2022, up by 32.66% year-on-year (YoY) from EGP 2.51 billion.

The net profits attributable to the parent company's shareholders grew to EGP 3.09 billion from EGP 2.29 billion, while the net profits attributable to minority interests leaped to EGP 244.79 million from EGP 224.49 million, according to a recent bourse filing. 

Likewise, the revenues went up to EGP 62.57 billion in the January-September 2022 period, compared to EGP 40.88 billion in the prior-year period. 

As for standalone business, the company's net profits advanced to EGP 1.24 billion in the nine-month period ended 30 September 2022 from EGP 957.02 million in the same period in 2021.  

During the first half (H1) of 2022, the company reported EGP 2.02 billion in its consolidated net profits after income tax, compared to EGP 1.74 billion in H1-21.