Neptune Wellness slides on wider Q2 net loss

Neptune Wellness Solutions

16/12/2022 21:49

** U.S.-listed shares of Canadian wellness product
manufacturer Neptune Wellness Solutions Inc  NEPT.O  down ~6% at
$0.33 in extended trading
    ** Company's Q2 sales drop 4.2% to about $12 mln, while its
net loss widens to about $37.3 mln, or $4.75/shr, vs last year's
$12.1, or $2.54/shr
    ** However, company posts Q2 gross profit of $1.1 mln vs a
gross loss of $1.2 mln a year ago
    ** "Despite having mostly exited the cannabis business in
the second fiscal quarter, the Company saw only a small
reduction in sales due to the strong performance of Sprout, up
19% year-over-year" - company
    ** Company sets goal of achieving positive adjusted EBITDA
by end of fiscal 2025
    ** Up to Friday's close, stock had fallen ~98% this year 
 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com;))