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Nile Pharma turns profitable in Q1-19/20 unaudited financials

Nile Pharma turns profitable in Q1-19/20 unaudited financials
The company’s revenues grew to EGP 213.3 million
Nile Pharmaceuticals
NIPH
-0.13% 37.77 -0.05

Cairo – Mubasher: Nile Pharmaceuticals and Chemical Industries (Nile Pharma) announced turning to profits during the first quarter of fiscal year 2019/2020, the company’s unaudited financial results showed.

The company logged a net profit of EGP 15.49 million in the three-month period ended 30 September, against a net loss of EGP 9.5 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, the company’s revenues grew to EGP 213.3 million in Q1 of FY19/20, compared to EGP 138.5 million in the corresponding period a year earlier.

It is worth mentioning that during FY18/19, Nile Pharma’s net profit stood at EGP 6.7 million, versus a net loss of EGP 17.59 million in FY17/18.