Telecom Egypt records 9.9% Rise in Q1 Net Profit

Egypt’s fixed line monopoly, Telecom Egypt registered 9.9 percent raise in its first-quarter net profit to 604 million Egyptian pounds ($79.16 million), it said Wednesday.

TE, in which the government owns an 80 percent stake, posted consolidated revenue of 2.76 billion pounds, up from 2.56 billion a year earlier.

Source: Reuters