Cairo – Mubasher: Minapharm Pharmaceuticals saw its profit dropping by 37% year-on-year in the first nine months of 2019, the drugmaker’s consolidated financial results showed on Thursday.

Net profit fell to EGP 73.9 million ($4.59 million) in the period between January and September, compared with EGP 117.39 million in the year-before period, according to the company’s statement to the Egyptian Exchange (EGX).

The EGX-listed firm recorded EGP 1.503 billion in revenues over the nine-month period, slightly lower than EGP 1.505 billion a year ago.

Minapharm posted a standalone profit of EGP 27.9 million over the first three quarters of 2019, a year-on-year drop from EGP 42.65 million.