Minapharm’s consolidated profits fall 92% YoY in Q1 2024

Consolidated net profits stood at EGP 4.047 million in Q1 2024, compared to EGP 49.929 million in Q1 2023

Staff Writer, Arab Finance

May 30, 2024

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Minapharm Pharmaceuticals (Minapharm) reported a 91.9% year-on-year (YoY) decline in consolidated net profits attributable to the parent company for the first quarter (Q1) of 2024, according to the consolidated financial statement.

Consolidated net profits stood at EGP 4.047 million in Q1 2024, compared to EGP 49.929 million in Q1 2023.

However, revenues grew to EGP 984.327 million in the three months to March 31st from EGP 972.238 million in the corresponding period last year.

Minapharm Pharmaceuticals is an Egypt-based company engaged in the production and distribution of pharmaceutical products. It is in cooperation with several international pharmaceutical companies and it distributes its products within and outside Egypt.

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