Egyptian drugmaker Nile Pharma posts $428k net profit in 2 months

Egyptian drugmaker Nile Company for Pharmaceuticals and Chemical Industries (Nile Pharma) (NIPH.CA) reported a net profit of 3.8 million Egyptian pounds ($428,091) for July and August 2016.

The company posted a net profit of 1.5 million pounds during July and August 2015.

The drug firm posted a 62.01 percent decline in a net profit during financial year 2015/2016, as it reached 6.8 million pounds compared with 17.9 million pounds ayear earlier.

The company’s financial year starts in July and ends in June.