Cairo – Mubasher: Nile Pharmaceuticals and Chemical Industries (Nile Pharma) announced turning to profitability during fiscal year 2018/2019, the company’s adjusted financial results showed.

The company logged a net profit of EGP 6.7 million from July 2018 to last June, against a loss of EGP 17.59 million in FY17/18, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Moreover, revenues grew to EGP 638.27 million in FY18/19, compared to EGP 459.93 million in the prior fiscal year.

Previously, the company reported EGP 17.48 million in net profits before adjustment for the twelve-month period ended 30 June. 

During the first eleven months of FY18/19, the company’s net profit amounted to EGP 19.5 million, against a loss of EGP 5 million in the year-ago period.