Cairo – Mubasher: Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) reported a 185% year-on-year (YoY) leap in its consolidated profits during the first quarter of 2020.

The company’s net profits hiked to EGP 23.76 million in the January-March period, compared to EGP 8.33 million in the year-ago period, according to a bourse disclosure on Monday.

Meanwhile, revenues levelled up to EGP 232.419 million in Q1-20 from EGP 190.15 million in Q1-19.

As for standalone business, the company achieved net profits of EGP 23.9 million in the three-month period ended on 31 March, up from EGP 7.67 million in the corresponding period a year earlier.

It is noteworthy to mention that in 2019, Rameda’s net profits slid to EGP 81.67 million from EGP 128.78 million in 2018, including minority shareholders’ rights.