Nile Pharma records 158.4% YoY higher profits in Q1 FY2023/24
Updated 10/26/2023 9:56:00 AM
Arab Finance: El Nile Company for Pharmaceuticals and Chemical Industries (Nile Pharma) (NIPH) recorded a 158.4% year-on-year (YoY) increase in net profit after tax during the first quarter (Q1) of the fiscal year (FY) 2023/2024, according to financial indicators filed to the Egyptian Exchange (EGX) on October 26th.
The company’s net profit after tax rose to EGP 53.842 million in the three months that ended on September 30th from EGP 20.838 million in the same period a FY year before.
Revenues surged 63.7% YoY to EGP 387.730 million in the July-September period from EGP 231.334 million in Q1 FY 2022/2023.
Nile Pharma manufactures and markets pharmaceuticals, various types of medical materials, chemical products, and cosmetics, as well as surgical threads and medical solutions.
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