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Indies Pharma records profit decline for third quarter

Indies Pharma Jamaica recorded a decline in profit for the third quarter of 2021.
 
It posted net profit of $43 million compared to $49 million for the corresponding period in 2020, a 14 per cent decrease, despite the quarterly deduction of the finance cost to serve the $805 million bond. 
 
The company said the lower net profit is primarily attributed to the finance cost associated with a loan acquired for growth capital.
 
However, revenues saw an increase of 26 per cent to $208 million, over the $165 million recorded in the third quarter of 2020.


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