Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) logged net profits attributable to the owners amounting to AED 1.90 million in the first quarter (Q1) of 2024.

The registered profits were compared to net losses worth AED 2.90 million in Q1-23, according to the financial statements.

Revenue from contracts with customers amounted to AED 439.10 million in the first three months (3M) of 2024, an annual drop from AED 454.10 million.

Basic and diluted earnings per share (EPS) attributable to the equityholders hit AED 0.20 as of 31 March 2024, versus a loss per share valued at AED 0.30 in Q1-23.

Julphar registered total assets worth AED 2.49 billion in Q1-24, up from AED 2.45 billion at the end of 31 December 2023.

Accumulated Losses

The ADX-listed company suffered accumulated losses valued at AED 344.80 million as of 31 March 2024, representing 29.80% of the capital. This is lower than the AED 346.70 million incurred at the end of December 2023.