The Clap:
Egypt’s largest pharmaceutical distributor, Ibn Sina Pharma, recorded a 35% jump in net profits in the first quarter of the year.
Revenues:
The company’s topline totaled EGP 10.574 billion in 1Q 2024, a sizable leap from the EGP 6.843 billion it raked in during the same period in 2023.
Gross profit:
The firm saw gross profits totaling EGP 777.685 million for the three months ending in March — a 42.3% QoQ rise – compared to 546.428 million in the same period last year.
Net profit:
Ibn Sina Pharma’s bottomline grew 35% QoQ to EGP 98.143 million during the quarter.
EBITDA:
The company’s earnings before interest, taxes, depreciation, and amortisation totaled EGP 406.376 million, a 45.6% rise from the same period in 2023.
Claps class:
Ibn Sina Pharma calculates its EBITDA growth by adding up its selling, general and administrative expenses (EGP 341.531 million) and its accounts receivable provision ( EGP 29.77 million) then subtracting the figure from gross profit.
