KUALA LUMPUR: Pharmaniaga Bhd
has recorded a net profit of RM101.03mil in the third quarter ended Sept 30, 2024 (3Q24), from a net loss of RM49.34mil in the same period last year.
Revenue increased by 16.3% to RM1.03bil in 3Q24 from RM885.49mil previously, primarily driven by the increased demand in the concession segment.
“The increased demand in the concession segment (was) attributed to the addition of new products to the approved product price list and price adjustments under the new concession cycle due to rising supplier costs coupled with the reversal of penalty charges from the government,” it said in a filing with Bursa Malaysia yesterday.
The pharmaceutical company said the higher revenue was also contributed by increased customer demand in the Indonesia segment, fuelled by a surge in orders from existing principals and additional sales generated from opening two new branches in February 2024. — Bernama
