Cipla Quality Chemicals posts UGX 19 billion profit
Cipla Quality Chemicals will pay shareholders 7.3 billion shillings. At its annual general meeting, officials also declared a dividend of (UGX 2.5 per ordinary share) after the drug maker announced a 19 billion shillings profit for the financial year ending 31st March 2023. The company’s chief financial officer Fedrick Kakooza however says, inflationary pressures, a slowdown in local sales due to low demand and the local currency volatility. He adds low demand in the manufacturing business and global disruptions in the logistics sector hurt drug exports.
