Revenue from prescribed drugs segment decreased by RMB 0.4 million following lower orders for anetholtrithione (ATT) products.
Gross profit margin increased to 49.3% from 44.6% in 3Q16, mainly due to higher margins of ATT products.
Cost of sales decreased by 4.6% to RMB 8.78 million from RMB 9.20 million last year.
Hence, gross profit for 3Q17 came up to RMB 8.54 million, 15.5% more than RMB 7.39 million the previous year.
For the third quarter ended September, the group recorded a gain of RMB 0.1 million in other income, compared to a loss of RMB 26,000 last year, mainly due to government grant, but was offset by foreign exchange loss.
Finance income for decreased by 42.6% to RMB 31,000 from RMB 54,000 in 3Q16, mainly due to lower interest income from cash and cash equivalents.
Finance costs increased by 12.2% to RMB 0.23 million from RMB 0.21 million last year, mainly due to higher interest rates.
On the outlook, Pharmesis says the prescribed drugs industry remains challenging.
Hence, the group will continue to focus on its non-prescribed drugs, especially Er Ding granules.
Shares in Pharmesis International closed 1 cent higher at 24 cents on Thursday.
