LEAMINGTON, ONT. — Aphria Inc. reported a loss of $5.1 million in its latest quarter compared with a profit of $16.4 million in the same period a year earlier.
The cannabis company says the loss amounted to two cents per share for the quarter ended Aug. 31 compared with a profit of seven cents per share a year ago.
Revenue in what was the company’s first quarter of its financial year totalled $145.7 million, up from $126.1 million a year earlier.
The increase came as net cannabis revenue grew to $62.5 million compared with $53.1 million a year ago, while distribution revenue fell to $82.2 million compared with $99.1 million in the same period last year.
Aphria says it sold 20,882 kilograms or kilogram equivalents of cannabis in the quarter, up from 12,557 a year ago.
On average, analysts had expected a loss of four cents per share and nearly $159.7 million in revenue, according to financial data firm Refinitiv.
This report by The Canadian Press was first published Oct. 15, 2020
