Arab Finance: The Egyptian International Pharmaceutical Industries Company (EIPICO) reported an 11.9% year-on-year (YoY) increase in consolidated net profit excluding minority interest for the first quarter (Q1) of 2023, according to the consolidated financial income statement filed to the Egyptian Exchange (EGX) on May 24th.

Consolidated net profit attributable to the holding company amounted to EGP 177.106 million in Q1 2023, compared to EGP 158.274 million in Q1 2022.

Moreover, the company generated consolidated net sales of EGP 992.420 million in the three-month period ended March 31st, growing from EGP 927.374 million in the same period last year.

As per EIPICO’s standalone financial income statement, the company achieved a standalone net profit after tax of EGP 182.646 million in Q1 2023, down from EGP 185.890 million in the year-ago quarter.

EIPICO is an Egypt-based public shareholding company that operates in the pharmaceutical industry. It is a manufacturer and exporter of pharmaceuticals and holds license agreements with a group of international.

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