Egypt - Delta Insurance's Q1 profit rises 26%
Wednesday, 11 18 2020, Category: Insurance and Reinsurance, Country: Egypt
The consolidated net profits of Delta Insurance grew by 25.9% year-on-year (YoY) to EGP 73.47 million during the first quarter of fiscal year 2020/2021 from EGP 58.3 million.
The insurer’s revenues increased to EGP 76.56 million in the July-September period from EGP 64.11 million in the year-ago period, according to a bourse disclosure on Monday.
On the other hand, the company’s quarterly expenses plunged to EGP 2.18 million from EGP 4.18 million in the corresponding quarter a year earlier.
As for standalone business, the company reported net profits of EGP 38.36 million in the three-month period ended 30 September, up from EGP 29.73 million in the prior-year period.
During FY19/20, Delta Insurance achieved net profits of EGP 183.56 million, compared to EGP 135.79 million a year earlier.