Rameda records 22.17% YoY consolidated profit hike in 9 months

The Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) posted a 22.17% year-on-year (YoY) increase in consolidated profits attributable to the parent company during the first nine months of 2024, according to the financial statements filed to the Egyptian Exchange (EGX) on November 14th.

The company’s consolidated profits excluding minority interest surged to EGP 234.523 million in the nine months to September 30th from EGP 191.963 million in the same period a year earlier.

Revenue jumped to EGP 1.784 billion in January-September from EGP 1.388 million in the year-ago period.

Furthermore, the standalone net profit after tax declined to EGP 221.532 million in the period from January 1st to September 30th from EGP 185.042 million in the same period last year.

Ramada 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.