Misr National Steel (Ataqa) reported an increase in net profit after tax to EGP 695.87 mln (USD 14 mln) in the first nine months of 2024, up from EGP 593.57 mln in the same period last year.
Sales revenue for January-September 2024 surged to EGP 3.78 bln (USD 76.5 mln), compared to EGP 1.71 bln a year earlier, according to the company’s financial results.
However, in Q3 2024, net profit declined to EGP 160.41 mln (USD 3.24 mln), down from EGP 182.82 mln in Q3 2023. Quarterly revenues rose to EGP 942.89 mln (USD 19 mln), up from EGP 789.29 mln in the same period last year.
Operating under the El Garhy Group, Ataqa has an annual rebar production capacity of 780,000 tons.
1 USD / 48.3 EGP
