Cairo – Mubasher: The unaudited financial results of Nile Pharmaceuticals and Chemical Industries (Nile Pharma) reported a 495% year-on-year (YoY) surge in its net profits during the first nine months of fiscal year 2019/2020.

The company’s net profits after taxes leapt to EGP 67.18 million during the nine-month period ended 31 March, compared to EGP 11.29 million in the corresponding period a year earlier, according to a bourse statement on Thursday.

Meanwhile, the company’s revenues rose to EGP 671.99 million during the said period from EGP 503.2 million in the year-ago period.

The growth in net profits was ascribed to the implementation of a plan to increase the prices of some products.

The cost of production increased to EGP 456.3 million from July 2019 till the end of last March, compared to EGP 391.4 million in the corresponding period a year earlier.