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Pachin Paints records EGP 20M consolidated profit

Pachin Paints records EGP 20M consolidated profit

ArabFinance: Paints and Chemical Industries (Pachin Paints) achieved a consolidated net profit of EGP 20 million during the first quarter (Q1) that ended on September 30th, according to the unaudited income statement.

The result came 454.89% Year on Year (YoY) higher than EGP 3.616 million.

The company posted consolidated sales of EGP 207.18 million from July to September 2020, down by 6.82% YoY from EGP 222.35 million.

As for the standalone financials, Pachin Paints recorded a net profit of EGP 1.12 million during Q1 of fiscal year (FY) 2020/2021.

The income was 5.62% higher than EGP 1.06 million when compared with the July-September 2019 period.

Standalone sales declined YoY by 13.36% to EGP 17.55 million in Q1 of FY 2020/2021, from EGP 20.26 million.

Pachin Paints registered an 88% YoY drop in consolidated net profit during FY 2019/2020. The company recently approved distributing EGP 1 per share as cash dividends for the past FY.

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04 Oct 2021
United Housing & Development UNIT

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