Raya Holding’s Q1 net profit jumps to 40 mln Egyptian pounds

Egypt’s Raya Holding for Technology and Telecommunication says its first-quarter net profit increased to 40 million Egyptian pounds ($2.2 million).

Earlier, net profit stood at 8 million pounds during the first quarter of 2016.

Standalone net profit climbed to 19 million pounds, compared with 7 million pounds, according to the company’s financial statements released Tuesday.