Ibnsina Pharma’s consolidated profit falls 45.52% YoY in 9 months: Egypt

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Ibnsina Pharma (ISPH) reported a 45.52% year-on-year (YoY) increase in consolidated profit attributable to the parent company during the first nine months of 2023, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on November 15th.

The company recorded a consolidated net profit after minority interest of EGP 174.037 million in the nine-month period ended September 30th, compared to EGP 119.597 million in the year-ago period.

The company’s consolidated net sales climbed to EGP 23.805 billion in the nine-month period ended September 30th from EGP 15.811 billion in the same period a year earlier.

Meanwhile, Ibnsina’s standalone net profit after tax rose to EGP 202.980 million in the January-September period of 2023 from EGP 120.646 million in the comparative period of 2022.

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