Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) shifted to net losses attributable to the equityholders amounting to AED 83.40 million in the first nine months (9M) of 2023.
The negative results were compared to net profits worth AED 10.40 million in 9M-22, according to the initial financial results.
Revenues from contracts with customers dropped year-on-year (YoY) to AED 1.22 billion in 9M-23 from AED 1.25 billion.
Basic and diluted loss per share attributable to the owners reached AED 7.20 as of 30 September 2023, against earnings per share (EPS) of AED 0.90 a year earlier.
Total assets jumped to AED 2.51 billion in 9M-23 from AED 2.39 billion as of 31 December 2022.
Income Statements for Q3-23
During the third quarter (Q3) of 2023, Julphar swung to net losses attributable to the shareholders valued at AED 39.30 million, compared to net profits standing at AED 4.10 million a year earlier.
The revenues declined to AED 366 million in Q3-23 from AED 415.80 million in Q3-22. Meanwhile, the basic and diluted loss per share hit AED 3.40, versus a profit per share of AED 0.40.
Accumulated Losses
The UAE-based company suffered accumulated losses worth AED 334.70 million as of 30 September 2023, representing 29% of the AED 1.15 billion capital.
In the first half (H1) of 2023, the ADX-listed company shifted to net losses attributable to the owners totalling AED 44.10 million, against profits valued at AED 6.30 million in H1-22.
