ArabFinance: El-Nile Company for Pharmaceuticals and Chemical Industries (Nile Pharma) (NIPH) posted a 537% year on year increase in its net profit for the July-April period of fiscal year (FY) 2019/2020, according to the company’s May 6th statement filed to the Egyptian Exchange.
Net profit reached EGP 100 million in the ten-month period of FY 2019/2020, an increase from EGP 15.7 million achieved in the prior-year period.
In mid-April, the company said it aims to achieve a net profit of EGP 153.7 million in FY 2020/2021, compared to the targeted EGP 50 million for FY 2019/2020.
The company’s unaudited financial statements showed an increase in its profits to EGP 67.18 million in the July-March period of FY 2019/2020, compared to EGP 11.29 million in the corresponding period.
Nile Pharma is an Egypt-based company engaged in the pharmaceuticals sector. The company manufactures and markets pharmaceuticals, various types of medical materials, chemical products, and cosmetics, as well as surgical threads and medical solutions.
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