Egypt’s Fawry earns EGP 324mln net profit during H1

Egyptian digital payments company Fawry said on Sunday a 42.4 percent year-on-year growth to record revenues of 1,444.2 million Egyptian pounds, according to its consolidated results for the six-month period ended 30 June 2023.

Fawry recorded adjusted net profit of 327.9 million pounds, up 290.4 percent y-o-y and yielding a net profit margin (NPM) of 22.7 percent. Statutory net profit came in at 283.1 millio0n pounds, growing 441.2 percent y-o-y.

On a quarterly basis, the company posted total revenues of 768.5 million pounds, growing 44.6 percent year-on-year. Meanwhile, adjusted net profit for the quarter stood at 181.1 million pounds.