Cairo – Mubasher: The net profits of Arab Dairy Products Co.(Panda) plunged by 95% year-on-year (YoY) to EGP 831,647 during the first quarter (Q1) of 2020, compared to EGP 17.295 million in the same period of 2019.

The company's revenues rose to EGP 340.15 million during the first three months of 2020 from EGP 313.47 million in the corresponding period of 2019, according to the company's consolidated financial results for the period ended on 31 March 2020.

Meanwhile, the company's standalone financials saw a decline in net profits to EGP  771,218 in the Q1 of 2020, compared to EGP 17.137 million in the corresponding period of 2019.

In 2019, the company's net profits increased by 27.1% year-on-year (YoY) to EGP 52.52 million, up from EGP 41.29 million in 2018.