Cairo – Mubasher: Paint and Chemicals Industries (Pachin) reported a 454.8% year-on-year (YoY) leap in its consolidated net profits, registering EGP 20.06 million in the first quarter (Q1) of fiscal year 2020/2021, compared to EGP 3.616 million, the unaudited financial results showed.

The company generated EGP 207.182 million in net sales during the July-September period, down from EGP 222.355 million in the corresponding period a year earlier, according to a bourse disclosure on Tuesday.

As for standalone business, Pachin logged EGP 1.128 million in net profits in Q1 of FY20/21, compared to EGP 1.06 million in the year-ago period.

During FY19/20, Pachin achieved net profits of EGP 4.5 million, compared to EGP 37.5 million a year earlier.