Indies Pharma Increases Profit
- Net profit at Indies Pharma increased 41.2% for the nine-month period ended July 31, 2019, moving from $80.11Mn (EPS: $0.06) to $113.09Mn (EPS: $0.09).
- Revenues at the company increased by 28.2% (or $126.51Mn) and were the major contributor to the improved bottom line. In addition, Indies has decreased their liabilities and is now debt-free relative to the corresponding period of 2018 thereby resulting in a decline of 93.3% (or 3.92Mn) in finance costs. The company has also benefitted from exchange gains which increased by $932K.
- The stock has risen 7.86% since the start of the calendar year and closed yesterday’s trading session at $3.43. The stock currently trades at a P/E of 28.58x which is above the Junior Market Distribution sector average of 25.01x.
(Source: Indies Pharma Financials)