Cairo – Mubasher: The unaudited financial results of the Egyptian Satellites Co (NileSat) showed net profits of $10.8 million in the first quarter of 2020, down by 5% from $11.38 million in the year-ago period.
NileSat’s revenues declined to $32.36 million in the January-March period, compared to $32.86 million in the same period in 2019, according to a bourse disclosure on Monday.
It is worth mentioning that during 2019, NileSat posted net profits of $42.53 million, down from $53.46 million in 2018.
