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Misr Oil & Soap fiscal Q3 loss narrows YOY

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Misr Oil & Soap fiscal Q3 loss narrows YOY

Misr Oil & Soap said its normalized net income for the fiscal third quarter ended March 31 was a loss of 14,900 pounds, compared with a loss of 3.4 million pounds in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to negative 0.0% from negative 4.5% in the year-earlier period.

Total revenue rose 69.1% year over year to 128.1 million pounds from 75.7 million pounds, and total operating expenses grew 57.8% from the prior-year period to 129.0 million pounds from 81.7 million pounds.

Reported net income came to 141,040 pounds, or 2 piastres per share, compared to a loss of 5.4 million pounds, or a loss of 90 piastres per share, in the prior-year period.

As of May 11, US$1 was equivalent to 8.88 Egyptian pounds.