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Rameda’s consolidated profit surges 138% YoY in Q1

Rameda’s consolidated profit surges 138% YoY in Q1

ArabFinance: The Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) reported a 138% year-on-year surge in consolidated net profit excluding minority interest for the first quarter (Q1) of 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on May 12th.

Consolidated net profit excluding minority interest recorded EGP 71.79 million in Q1 2022, compared to a profit of EGP 30.16 million in the same quarter of 2021.

Meanwhile, the company’s standalone net profit after tax stood at EGP 70.46 million in the three-month period ended March 31st, growing from EGP 30.33 million in Q1 2021, according to the standalone financial statement.

In 2021, Rameda posted a consolidated net profit attributable to the parent company of EGP 181.08 million in 2021, up from EGP 112.18 million in 2020.

Rameda is an Egypt-based pharmaceutical company that manufactures both human and veterinary pharmaceuticals.

It operates three fully independent factories at its plant, including 20 production lines capable of producing a wide range of general medicinal forms, namely eye drops, solid dosage forms, syrups, blow-fill-seal, and lyophilized vials, among others.

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