Cairo – Mubasher: Misr Chemical Industries achieved net profits of EGP 50.15 million in the first quarter (Q1) of fiscal year (FY) 2021/2022, up by 20% year-on-year (YoY) from EGP 41.88 million, the unaudited financial results showed. 

The company's revenues increased to EGP 138.51 million in the July-September period, compared to EGP 126.77 million in the corresponding period a year earlier, according to a bourse disclosure on Tuesday. 

The profit growth was ascribed to higher volumes of production due to stronger demand for the company's products as well as higher selling prices. 

In FY20/21, the company reported net profits of EGP 133.1 million, up from EGP 63.7 million a year earlier.