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Misr Oil & Soap fiscal Q3 loss widens YOY

Misr Oil & Soap Co. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 56 Egyptian piastres per share, compared with a loss of 14 piastres per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.4 million pounds, compared with a loss of 879,350 pounds in the year-earlier period.

The normalized profit margin declined to negative 4.5% from negative 2.6% in the year-earlier period.

Total revenue grew year over year to 75.7 million pounds from 34.1 million pounds, and total operating expenses grew from the prior-year period to 81.7 million pounds from 36.0 million pounds.

Reported net income totaled a loss of 5.4 million pounds, or a loss of 90 piastres per share, compared to a loss of 1.2 million pounds, or a loss of 20 piastres per share, in the prior-year period.

As of May 14, US$1 was equivalent to 7.63 Egyptian pounds.