Rameda records 1.5% YoY consolidated profit drop in 9 months: Egypt

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The Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) posted a 1.5% year-on-year (YoY) decrease in consolidated profits attributable to the parent company during the first nine months of 2023, according to the financial statements filed to the Egyptian Exchange (EGX) on November 14th.

The company’s consolidated profits excluding minority interest surged to EGP 191.963 million in the nine months to September 30th from EGP 194.895 million in the same period a year earlier.

Revenue jumped to EGP 1.388 billion in January-September from EGP 1.093 million in the year-ago period.

Furthermore, the standalone net profit after tax declined to EGP 185.042 million in the period from January 1st to September 30th from EGP 190.730 million in the same period last year.

Ramada 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.