Cairo – Mubasher: The Egyptian Satellites Company (NileSat) logged 48.90% higher profits during the first nine months (9M) of 2022 to $30.24 million, compared to $20.30 million in the corresponding period in 2021.
The company’s revenues reached $74.53 million during 9M-22, down from $86.66 million in 9M-21, according to a bourse statement on Thursday.
During the third quarter (Q3) of 2022, NileSat’s net earnings stood at $11.53 million, compared to $2.10 million in Q3-21.
In the meantime, revenues went down to $24.39 million in July-September 2022, compared to $27.17 million in July-September 2021.
During the first half (H1) of the year, NileSat reported a marginal rise in its net profits at $18.70 million, compared to $18.19 million in the same period a year earlier.
Revenue for H1-22 slid to $50.14 million, compared to $59.49 million in H1-21.
