Hyphens Pharma International has reported a net profit after tax (NPAT) of $2 million for the 3QFY2024 ended September, down 5.6% y-o-y from the same period last year.
This came on the back of higher distribution costs in line with improved sales and higher manpower costs, as well as an increase in administrative expenses. This was partially offset by higher gross profit and foreign exchange gains due to favourable local currency exchange rate movement against the US dollar and euro, which are the major currencies for the group’s supplies.
Meanwhile, the group’s revenue was up 2.5% y-o-y at $43.9 million in 3QFY2024, due to improved sales driven mainly by business in Singapore and Malaysia.
Gross profit rose by 12.1% y-o-y to $17 million in 3QFY2024, while gross profit margin stood at 38.7%, as compared to 35.4% in 3QFY2023.
Shares in Hyphens Pharma closed flat at 28.5 cents on Nov 12.
