Telecom Egypt reports EGP 9.182 net profit in 2022

State-run Telecom Egypt (TE) announced a net profit growth of 9.09 percent year on year (YoY) to record about 9.182 billion Egyptian pounds in 2022, up from 8.417 billion pounds in 2021, according to the company’s financial statements.

The financial statements also showed that the consolidated operating revenue reached growth of 19 percent to reach 44.273 billion pounds last year, compared to 37.087 billion pounds in 2021.

Home and Consumer revenue was up 19 percent and Enterprise by 59 percent, backed by strong data and voice performances from a growing customer base.

Meanwhile, the telecom operator’s standalone net profit after tax jumped to 7.345 billion pounds in 2022, compared to a profit of 6.955 pounds billion in 2021, according to the statement.