Misr Chemical Industries’ profit climbs 106.7% YoY in 3 months
Updated 11/14/2022 1:27:00 PM
Arab Finance: Misr Chemical Industries Company (MICH) reported a 106.7% year-on-year (YoY) growth in net profit after tax for the first quarter (Q1) of fiscal year (FY) 2022/2023, according to the company’s financial income statement filed to the Egyptian Exchange (EGX) on November 14th.
Net profit after tax amounted to EGP 103.66 million in Q1 FY 2022/2023, compared to EGP 50.15 million in the same quarter of FY 2021/2022.
Operating revenues increased to EGP 197.77 million in the three-month period ended September 30th from EGP 480.61 million in the same period a FY earlier.
Misr Chemical Industries owns a manufacturing plant that produces a range of chemical products including liquid caustic soda, caustic soda flakes, liquid chlorine, hydrochloric acid, and bleaching powder.
