Indies Pharma Jamaica is reporting a decline in profits for the first quarter ending January 31.
The company posted net profit of $21.8 million, down from $74.2 million in the corresponding period last year.
Revenue also fell to $297.8 million, compared to $325.4 million a year ago.
Administrative and other expenses increased to $130.7 million, contributing to a drop in operating profit, which fell to $55.5 million from just over $100 million last year.
Finance costs also rose significantly to $27.9 million, further impacting the company's bottom line.
Despite the quarterly declined, the company recorded total comprehensive income of $21.8 million for the period.
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