Rameda records 82% YoY consolidated profit hike in 9 months
Updated 11/15/2022 12:42:00 PM
Arab Finance: The Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) posted a 82.015% year-on-year (YoY) rise in consolidated profits attributable to the parent company during the first nine months of 2022, according to the financial statements filed to the Egyptian Exchange (EGX) on November 15th.
The company’s consolidated profits excluding minority interest surged to EGP 194.895 million in the nine months to September 30th from EGP 107.076 million in the same period a year earlier.
Revenue jumped to EGP 1.093 billion in January-September from EGP 852.487 million in the year-ago period.
Furthermore, the standalone net profit after tax soared to EGP 190.731 million in the period from January 1st to September 30th from EGP 107.58 million in the same period last year.
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.
