Julphar’s profits to equityholders shrink to $2.86mln in 9M-22

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Abu Dhabi – Gulf Pharmaceutical Industries (Julphar) logged net profits attributable to the owners worth AED 10.40 million in the first nine months (9M) of 2022, down from AED 103.20 million in 9M-21.

Revenue from contracts with customers amounted to AED 1.25 billion in 9M-22, higher than AED 746.30 million in 9M-21, according to the company’s income statements.

The basic and diluted earnings per share (EPS) attributable to equityholders retreated to AED 0.90 in January-September 2022, compared to AED 8.90 during the same period in 2021.

In the third quarter (Q3) of 2022, the firm’s net profits attributable to the shareholders plummeted to AED 4.10 million, compared to AED 53.30 million in Q3-21.

Meanwhile, the revenues from contracts with customers jumped to AED 415.80 million in Q3-22 from AED 362.80 million in Q3-21.

During Q3-22, the basic and diluted EPS attributable to owners stood at AED 0.40, versus AED 4.60 in the July-September 2021 period.

In the three-month period which ended on 31 March 2022, Julphar turned profitable at AED 1.50 million, against net losses attributable to shareholders of AED 23.90 million in Q1-21.