NileSat posts 2.8% YoY higher profits in Q1

Egyptian Satellites (NileSat) reported a 2.81% year-on-year (YoY) rise in net profits after tax during the first quarter (Q1) of 2023, recording $7.479 million, compared to $7.274 million, according to the financial income statement filed to the Egyptian Exchange (EGX) on May 25th.

The company’s operating revenue climbed by 2.14% YoY in the three-month period ended March 31st 2023 to $25.585 million from $25.049 million.

NileSat is an Egypt-based public shareholding company that offers services related to satellite radio and television broadcasting, in addition to the broadband internet.

The company has a booking center that provides a range of services including satellite newsgathering as well as feed and turnaround services, in addition to a training center.