MediPharm Labs Q2 Profit Rises on Cost Reductions, Production Efficiencies-February 2024-www.financetom.com

MediPharm Labs Q2 Profit Rises on Cost Reductions, Production Efficiencies

News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities

MediPharm Labs Q2 Profit Rises on Cost Reductions, Production Efficiencies

Aug 14, 2024 6:28 AM

09:05 AM EDT, 08/14/2024 (MT Newswires) -- MediPharm Labs ( MEDIF ) said Wednesday that its gross profit surged in the second quarter, driven by cost reductions, production efficiencies and a favorable product mix.

The pharmaceutical company, which specializes in precision-based cannabinoids, said its gross profit climbed to $3.4 million from $855,000.

Revenue rose to $10.4 million from $9.6 million. Adjusted EBITDA loss was cut to $124,000 from a loss of $3.2 million.

"Q2 2024 was a major step in the right direction towards profitability and becoming cash flow positive," CFO Greg Hunter said. "Our revenue and adjusted EBITDA were both the highest in over three years and Q2 put MediPharm ( MEDIF ) on the verge of profitability."

Previous page： SJVN secures 200-MW wind power project at ₹3.24 per unit Next page： Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN

Comments

Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.

Show More Comments

Related Articles >

SJVN secures 200-MW wind power project at ₹3.24 per unit

Nov 16, 2023

Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.

Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN

Nov 28, 2023

The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.

Suzlon's S144–3 MW wind turbines get big boost from Indian government

Nov 15, 2023

Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.

This sustainable jewellery brand is luring some women away from gold

Oct 30, 2023

Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.