Latest news with #MMGroupforIndustryandInternationalTrade
Time of India
5 days ago
- Automotive
- Time of India
Tata Motors launches commercial vehicle range in Egypt with MTI
Tata Motors has introduced a range of commercial vehicles in Egypt in partnership with MM Group for Industry and International Trade (MTI), one of the country's major distribution companies. The launch includes models such as the Tata Xenon, Ultra T.7, Ultra T.9, Prima 3328.K, Prima 4438.S, Prima 6038.S, and the LP 613 bus. These vehicles are intended to address Egypt's transport requirements across cargo and passenger segments, supporting infrastructure development and logistics growth. Asif Shamim, Head of International Business, Tata Motors Commercial Vehicles, said, 'Egypt is a pivotal market for Tata Motors, driven by its expanding infrastructure and the growing demand for reliable mobility solutions. With decades of experience in delivering advanced commercial vehicles across diverse geographies, we are confident that our offerings – from pickups, heavy trucks to buses – will cater to the varied needs of fleet owners and businesses in the market." "Designed for performance, fuel efficiency and high uptime, our vehicles enable greater productivity and profitability. We aim to further strengthen the portfolio with new introductions at regular intervals to address evolving customer requirements. Backed by MTI's strong market insight and nationwide network, we are committed to creating lasting value in the country,' he added. After-sales network and customer support Khaled Mahmoud, CEO of MTI, said, 'The introduction of Tata Motors' commercial vehicles in Egypt marks a key milestone in the country's transport and logistics sector. With this launch, we are bringing trusted solutions catering to diverse applications and demanding conditions. Our focus will be on ensuring a superior ownership experience through MTI's after-sales network. We value our partnership with Tata Motors and are confident that, together, we will set new benchmarks in efficiency, durability and customer service in Egypt's commercial vehicle market.' Customers will benefit from extended warranties of up to five years or 150,000 km on the Tata Xenon and Ultra ranges, along with scheduled service packages. MTI offers seven strategically located service points across Egypt to provide access to spare parts and maintenance support, aiming to maximise vehicle uptime. Tata Motors supplies commercial vehicles across more than 40 countries, offering products ranging from sub-1-tonne to 60-tonne cargo vehicles and 9-seater to 71-seater buses.
Zawya
17-04-2025
- Business
- Zawya
Egypt: MTI records $19mln consolidated profits in 2024; capital hike approved
Cairo – MM Group for Industry and International Trade (MTI) logged consolidated net profits valued at EGP 1.09 billion in 2024, compared with EGP 699.15 million in 2023. Net sales climbed to EGP 14.30 billion at the end of December 2024 from EGP 10.35 billion a year earlier. The earnings per share (EPS) climbed to EGP 0.58 from EGP 0.47. Standalone Financials At the end of December 2024, the company recorded net profits after tax amounting to EGP 907.963 million, an annual growth from EGP 631.268 million. Non-consolidated EPS increased to EGP 0.49 last year from EGP 0.43 in 2023, while the net sales climbed to EGP 9.33 billion from EGP 7.88 billion. Capital Hike The board members agreed to raise the issued and paid-up capital to EGP 1.17 billion from EGP 936.58 million. In the first nine months (9M) of 2024, the company posted higher consolidated net profits at EGP 801.29 million, versus EGP 482.12 million in the year-ago period. Source: Mubasher
Zawya
15-04-2025
- Business
- Zawya
Egypt: MTI unveils 56.1% higher consolidated profits in 2024, capital increase
MM Group for Industry and International Trade (MTI) posted 56.104% year-on-year higher consolidated net profits attributable to the owners company at EGP 1.063 billion in 2024, as per the financial statements. The registered net profits were compared with EGP 699.155 million in 2023. Earnings per share (EPS) climbed to EGP 0.58 at the end of December 2024 from EGP 0.47 a year earlier, while the revenues surged to EGP 14.308 billion from EGP 10.357 billion. Regarding the standalone financials, the net profits after tax amounted to EGP 907.963 million in 2024, an annual rise from EGP 631.268 million. Non-consolidated EPS grew to EGP 0.49 last year from EGP 0.43 in 2023, while the net sales hiked to EGP 9.332 billion from EGP 7.884 billion. The board members approved increasing the issued and paid-up capital to EGP 1.170 billion from EGP 936.584 million. The company will raise its capital by EGP 234.146 million at EGP 0.25 free share per original share. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
