By Amina El-Farnawany
The Egyptian mobile services company Mobinil reached a net profit of EGP 73.3m during July to September 2015 compared to the loss of EGP 252.5m during the same period last year.
According to a statement issued about the business results of the company, Mobinil achieved revenues of EGP 8bn by the end of the third quarter, compared to EGP 7.6bn during the same period last year, which is an increase of 5.3%.
The total profit increased by 8.3% and registered EGP 6.3bn during the quarter that ended on 30 September, compared to EGP 5.8bn in September 2014.
The principal earnings per share rose to EGP 0.73 in September 2015 in comparison to losses of EGP 3.53 per share for the comparative period.
After incurring losses for three consecutive years, Mobinil is seeing profits in 2015. Standalone financial indicators for the first half of 2015 show that losses shrunk by 90.6%, reaching EGP 30m, instead of the EGP 336m that were registered the year before.