Cairo – Mubasher: Six of October Development and Investment (SODIC) posted a consolidated net profit after tax of EGP 392.05 million in the first quarter (Q1) of 2024, up from EGP 191.02 million in the same quarter of the previous year.
Total operation revenues surged to EGP 1.83 billion in Q1-24 from EGP 1.49 billion in the corresponding period of 2023, according to the interim financial results.
The earnings per share (EPS) reached EGP 1.10 in the three-month period that ended on 31 March 2024, up from EGP 0.53 the year before.
Standalone Results
On the other hand, SODIC’s net standalone profit dropped to EGP 48.08 million in Q1-24 from EGP 215.88 million in Q1-23.
Standalone operation revenues declined to EGP 750.07 million in the January-March period from EGP 1.10 billion a year earlier.
SODIC recorded a net consolidated profit of EGP 1.37 billion in 2023, a 164% YoY surge from EGP 520.05 million.
