Indies Pharma reports a slump in Q1 profits

• Indies Pharma Jamaica Limited reported unaudited net profit of $39.61Mn (EPS: 0.03¢) for the three months ended January 31, 2020, which represents a 15.6% (or $7.30Mn) decline when compared to the same period one year prior.
• This performance can be explained by the 27.3% (or $19.69Mn) increase in operating expense despite the 15.2% (or 25.54Mn) increase in revenues.
• The stock has fallen 39.9% since the start of the calendar year and closed Monday’s trading session at $2.00 per share. At this price it currently trades at a P/E of 22.2x earnings which is above the Junior Market Distribution Sector Average of 19.4x.

(Source: Indies Pharma’s Financials)