- After recording losses last year, Cipla Quality Chemicals Uganda has posted Ush5.5 billion($1.5 million) profit for the financial period ending September 2021.
- The company manufactures Anti-Retroviral (ARV) drugs meant for HIV/Aids patients, tuberculosis, Malaria and hepatitis medicines.
After recording losses last year, Cipla Quality Chemicals Uganda has posted Ush5.5 billion($1.5 million) profit for the financial period ending September 2021. The company manufactures Anti-Retroviral (ARV) drugs meant for HIV/Aids patients, tuberculosis, Malaria and hepatitis medicines.
The company had recorded a net loss of Ush21.3 billion ($5.98 million) in September 2020. According to the company’s latest financial results published its profit before tax stood at Ush5.5 billion ($1.5 million), at the end of September 2021. The working capital position also rose from Ush43 billion ($12 million) to Ush84 billion ($23.6 million) during the same period.
The firm’s improved performance was mostly due to the sharp rise in the profit margins that improved from 8.5 percent in September 2020 to 23.33 percent in September 2021.The success was attributed to aggressive renegotiation of the firm’s procurement contracts signed with raw material suppliers and reduced logistical costs triggered by the recent easing of Covid-19 pandemic lockdown measures.
 profit for the financial period ending September 2021. The company manufactures Anti-Retroviral (ARV) drugs meant for HIV/Aids patients, tuberculosis, Malaria and hepatitis medicines.){kind=link}