Cairo – Mubasher: Nile Pharmaceuticals and Chemical Industries (Nile Pharma) reported turning into profitability during the first ten months of fiscal year 2018/2019, the company’s board of directors said.

Nile Pharma logged net profits of EGP 15.8 million from July 2018 to last April, against losses of EGP 6.1 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.

During the first nine months of FY18/19, the company reported net profits of EGP 11.29 million, versus losses of EGP 6.7 million in the same period of FY17/18.

Revenues grew by 41% year-on-year to EGP 503.21 million in the nine-month period ended 31 March, compared to EGP 357 million.