Indies Pharma Achieves Whopping Increase for First Quarter
- Indies Pharma recorded a profit of $46.90Mn (EPS: $0.04) for the first quarter ending January 31, 2019, which represents a 64.07% increase over the same period last year.
- Growth in revenues (+11.23%) and a reduction in direct costs (-15.7%) were the primary drivers of the robust net profit growth. Indies Pharma also recorded a foreign exchange gain of $716,791 in Q12019 relative to a loss of $1.87Mn in Q12018 and saw a significant reduction in finance costs.
- The stock has declined by 3.14% YTD and currently trades at a P/E of 28x earnings which is above the junior market average of 24.96x earnings.
(Source: Indies Pharma Financials)