Cairo – Mubasher: Nile Pharmaceuticals and Chemical Industries (Nile Pharma) reported a 9,200% year-on-year profit hike during July, the company’s board of directors announced.

The pharmaceuticals firm’s net profit skyrocketed to EGP 4.65 million in the seventh month of 2019, compared to about EGP 50,000 in the same month a year earlier, according to a statement to the Egyptian Exchange (EGX) on Sunday.

For the full fiscal year 2018/2019, the EGX-listed firm reported net profits of EGP 17.48 million, versus losses of EGP 17.59 million a year earlier.

Revenues increased to EGP 636.06 million in the twelve-month period ended 30 June, compared to EGP 459.93 million in the year-ago period.