Nile Pharma reports 16% profit drop in 3 months

Updated 11/7/2021 7:07:11 PM

ArabFinanceEl Nile Company for Pharmaceuticals and Chemical Industries (Nile Pharma) (NIPH) reported a 16% year-on-year decline in net profit after tax for the first quarter (Q1) of fiscal year (FY) 2021/2022, according to the company’s financial indicators filed to the Egyptian Exchange (EGX).

Net profit after tax fell to EGP 18.71 million in Q1 FY 2021/2022 from EGP 22.29 million in the year-ago period.

Revenue dropped by 5.1% to EGP 207.30 million in the July-September period of 2021 from EGP 218.42 million in the year-ago period.

Nile Pharma manufactures and markets pharmaceuticals, various types of medical materials, chemical products, and cosmetics, as well as surgical threads and medical solutions.