Cairo: The net profits after tax of Egyptian Chemical Industries (Kima) hit EGP 350.46 million in the first quarter (Q1) of fiscal year (FY) 2023/2024.

The recorded net profits were lower by 25% year-on-year (YoY) than EGP 471.22 million, according to the financial statements.

Kima posted a 9% drop in sales to EGP 1.42 billion during the three-month period that ended on 30 September 2023, versus EGP 1.56 billion in Q1-22/23.

In Q1-23/24, the earnings per share (EPS) stood at EGP 0.29, an annual decline of 25% from EGP 0.39.

During the July 2022-June 2023 period, the EGX-listed firm recorded 83% YoY higher net profit after tax at EGP 1.19 billion, compared to EGP 651.48 million.

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