Cairo – Mubasher: The consolidated net profits of Fawry for Banking Technology and Electronic Payments fell by 28.5% on an annual basis during the first half (H1) of 2022 to EGP 98.04 million, compared to EGP 137.15 million, including minority shareholders’ rights.
Revenues of the EGX-listed firm totalled EGP 1.01 billion during the six-month period ended 30 June 2022, compared with EGP 742.56 million in the year-ago period, according to a stock exchange statement on Monday.
As for the standalone financials, Fawry reported a yearly drop in H1-22 profits to EGP 40.63 million from EGP 90.52 million.
During the second quarter (Q2) of 2022, the net profits decreased to EGP 50.20 million from EGP 51.35 million in the corresponding quarter in 2021.
Revenues soared to EGP 531.29 million in Q2-22, compared to EGP 393.58 million in Q2-21.
It is worth highlighting that in the January-March period of 2022, Fawry’s consolidated earnings retreated by 44.24% annually to EGP 47.83 million from EGP 85.79 million, including minority shareholders' rights.
