Pachin reports 422% YoY higher consolidated profit in 3 months

Paints and Chemical Industries (Pachin) (PACH) posted a 422.05% year-on-year (YoY) surge in consolidated profit attributable to the parent company during the three months that ended on September 30th, according to financial statements filed to the Egyptian Exchange (EGX) on Thursday.

The company’s consolidated profit excluding minority interest soared to EGP 8.285 million in July-September from EGP 1.587 million a year earlier.

As for standalone financials, the company turned to profits in 3 months to September 30th, recording a net profit after tax of EGP 650,065, compared to a net loss of EGP 1.189 million a year earlier.

Paints and Chemical Industries is an Egypt-based public shareholding company engaged in the production, marketing, and distribution of paints, varnishes, industrial chemicals, printing inks, animal extracts, and other related products.