Cairo – Mubasher: Orange Egypt for Telecommunications Company’s consolidated losses have worsened 2,343.9% to EGP 300.6 million in the first quarter of fiscal year 2017, compared to EGP 12.3 million in Q1-16.
However, revenues increased in Q1-17 to EGP 3.06 million from EGP 2.84 billion for Q1-16, according to a bourse filing released on Thursday.
The company’s standalone financial statements for the first three months of 2017 showed a net loss of EGP 286.04 million, against a net profit of EGP 21.7 million for Q1-16.
The stock rose on Wednesday by 7.53% to EGP 101.73.
