MeCure Industry Plc has released its unaudited financial statement for the nine-month period ended September 30,2023 to the Nigerian Exchange Group (NGX).
MeCure industry Plc a Nigerian based medical company, managed jointly by Arjun Udani and Dukor Anderline. It is in the business of manufacturing pharmaceutical products, as well as distribution of pharmaceutical and multivitamin products. The company was incorporated on March 16, 2005 and became a public company on October 27, 2022.
As gathered by the Nigerian Observer, the company generated N21.5 billion as revenue in nine months for the period ended September 30,2023.
In its report, the sum of N14.1 billion was used as the cost of sale, leaving the gross profit to be N7.4 billion for the same period of the year.
Meanwhile, the profit before tax for the period was N2.6 billion. This is the profit earned before tax is taken away and paid while the profit after tax (PAT) refers to the amount the company retains after meeting all its operational and non-operationally expenses, liabilities and taxes.
Consequently, this leaves the profit after tax declining to N1.9 billion in its nine months of operation.
Furthermore, its non-current assets which include property; plant and equipment; and also, R&D amounted to N18.7 billion while the current assets which include inventories; trade and other receivables; and cash and cash equivalent amounted to N14.7 billion. In total, the assets all amounted to N34.5 billion.