Arab Finance: The Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) reported a 7.36% year-on-year decline in consolidated net profit excluding minority interest for the first quarter (Q1) of 2023, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on May 15^th.

Consolidated net profit excluding minority interest hit EGP 66.513 million in Q1 2023, compared to a profit of EGP 71.799 million in the same quarter of 2022.

Revenues were down at EGP 392.001 million during the January-March period of 2023 from EGP 343.064 million during the first three months of 2022.

Meanwhile, the company’s standalone net profit after tax stood at EGP 65.395 million in the three-month period ended March 31st, down from EGP 70.416 million in Q1 2022.

Rameda is an Egypt-based pharmaceutical company that manufactures both human and veterinary pharmaceuticals.

It operates three fully independent factories at its plant, including 20 production lines capable of producing a wide range of general medicinal forms, namely eye drops, solid dosage forms, syrups, blow-fill-seal, and lyophilized vials, among others.

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