The Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) posted a 14.3% year-on-year (YoY) decline in consolidated net profits attributable to the parent company in the first quarter (Q1) of 2024, achieving EGP 57.009 million from EGP 66.514 million, according to a statement.

However, revenues jumped to EGP 456.233 million in the January-March period, up from EGP 392.002 million in the corresponding period a year ago.

Rameda’s standalone net profits after tax fell to EGP 53.539 million in Q1 2024 from EGP 65.396 million in Q1 2023.

Meanwhile, standalone revenues rose to EGP 451.635 million from EGP 389.678 million.

Rameda 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.

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