Telecom Egypt Q1 Net Profit down 36%

Big 5

Telecom Egypt (ETEL.CA) on Tuesday reported a 36-percent fall in first-quarter net profit after taxes of 549 million Egyptian pounds ($77.82 million) on Tuesday.

The landline monopoly, in which the government owns an 80 percent stake, said revenues totaled 2.564 billion Egyptian pounds, down 5.6 percent.

Source: Reuters