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Memphis Pharmaceutical's profit hikes 386% in nine months

Memphis Pharmaceutical's profit hikes 386% in nine months
The company’s revenues increased to EGP 395.5 million
Memphis Pharmaceutical
MPCI
-100.00% 19.73 -20.50

Cairo – Mubasher: Memphis Pharmaceutical and Chemical Industries posted a 386% leap in its net profits, registering EGP 25.37 million in the first nine months of fiscal year (FY) 2020/2021, compared to EGP 5.22 million in the year-ago period, the unaudited financial results showed.

The company’s revenues increased by 4.6% to EGP 395.5 million from July 2020 until the end of last March, compared to EGP 378.3 million in the corresponding period a year earlier, according to a bourse disclosure on Wednesday.

During the first eight months of FY20/21, the company reported net profits before taxes of EGP 23.73 million, up from EGP 4.09 million in the prior-year period.