Raya Holding for Financial Investment reported a dramatic 131% year-on-year surge in consolidated net profit after tax and minority interest, reaching EGP 330.95 million in Q1-24, compared to EGP 142.97 million in the same period last year. Revenues skyrocketed by 59% YoY to EGP 10.41 billion, up from EGP 6.54 billion, while total consolidated assets grew to EGP 32.27 billion as of March 31, 2024, from EGP 27.14 billion at the end of 2023. However, standalone financials revealed a net loss of EGP 173.38 million for Q1-24, contrasting sharply with a EGP 216.56 million profit in Q1-23. Loss per share stood at EGP 0.08, down from an earnings per share of EGP 0.09 a year earlier. Despite standalone setbacks, the company’s 2023 consolidated net profit rose to EGP 563.88 million from EGP 419.23 million in 2022.