EIPICO’s consolidated profit jumps to $12.75mln in Q1-24

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The consolidated net profit of Egyptian International Pharmaceutical Industries (EIPICO) soared to EGP 603.62 million in the first quarter (Q1) of 2024 from EGP 188.41 million in the same period a year earlier.

Net sales surged to EGP 1.50 billion in Q1-24 from EGP 992.42 million in Q1-23, according to the interim financial results.

Standalone Financials

EIPICO’s standalone net profit surged to EGP 626.14 million in the three-month period that ended on 31 March 2024 from EGP 182.64 million in the equivalent period the year before.

Standalone net revenues increased to EGP 1.44 billion in the January-March period from EGP 933.44 million in the corresponding period last year.

The earnings per share (EPS) reached EGP 5.15 in Q1-24, up from EGP 1.84 in Q1-23.

EIPICO recorded a consolidated profit of EGP 823.30 million in 2023, up from EGP 643.76 million a year earlier.