Cairo – Mubasher: Orange Egypt for Telecommunications said Wednesday that its unaudited consolidated financial statements showed a net loss of EGP 2.42 billion for the fourth quarter of fiscal year 2016, against a net profit of EGP 31 million for Q4-15.
The company attributed the quarterly losses to a foreign exchange loss of EGP 2.3 billion, according to a bourse filing.
Unaudited consolidated net losses for FY16 reached EGP 2.55 billion, compared to a net profit of EGP 10.4 million for 2015.
Consolidated revenues amounted to EGP 2.86 billion for 2016, up 3.6% from EGP 11.4 billion for 2015.