Cairo – Mubasher: The board of directors of Nile Pharmaceuticals and Chemical Industries (Nile Pharma) announced that net profits before taxes surged by 602.4% year-on-year (YoY) during the first nine months of fiscal year 2019/2020.

Nile Pharma’s pretax net profits soared to EGP 85 million in the nine-month period ended 31 March 2020, compared to EGP 12.1 million in the corresponding period a year earlier, according to a bourse disclosure on Sunday.

It is noteworthy to mention that during the first seven months of FY19/20, the company’s net profits reached EGP 29.2 million, up from around EGP 500,000 in the year-ago period.