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Nilesat Q1 profits up 2.8%

May 30, 2023

By Chris Forrester

Cairo-based satellite operator Nilesat has reported a 2.8 per cent Q1 rise in its net profit in the three months to March 31st 2023.

First-quarter net profit rose to $7.47 million (€6.9m), from $7.27 million in the same period in 2022, although this was down on the 2021 Q1 period when net income was stated as $15.31 million. Nilesat sells its capacity priced in US dollars.

Nilesat’s operating revenue climbed by 2.14 per cent y-o-y in the three-month period ended March 31st to $25.585 million from $25.049 million.

Nilesat declared its total assets are now measured at $636 million and down slightly from $649.88 million as at December 31st last year.

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