Ibnsina Pharma’s consolidated profits rise 35% YoY in Q1
Updated 5/19/2024 12:59:00 PM
Arab Finance: Ibnsina Pharma (ISPH) reported a 35.3% year-on-year (YoY) increase in consolidated net profits attributable to the parent company for the first quarter (Q1) of 2024, hitting EGP 98.143 million, versus EGP 72.555 million, the firm disclosed.
Net sales came in at EGP 10.574 billion in the January-March period of 2024, up from EGP 6.843 billion in the same period of 2023.
The company’s standalone net profits after tax stood at EGP 101.837 million in Q1 2024, rising from EGP 81.912 million in the corresponding quarter last year.
Meanwhile, standalone net sales grew to EGP 10.538 billion from EGP 6.82 billion.
Established in 2001, Ibnsina Pharma is the second-largest pharmaceutical distributor in Egypt, distributing products from over 350 global and local companies to more than 46,000 customers of pharmacies, hospitals, wholesalers, and healthcare institutions.
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