Indies Pharma rebounds in third quarter

INDIES Pharma Jamaica Limited returned to growth in its July quarter, posting double-digit increases in revenue and profit as the pharmaceutical company continued to recover from the disruption caused by Hurricane Melissa.

Revenue for the three months ended July 31 climbed 12.4 per cent to $292.4 million from $260 million a year earlier, while net profit rose 25.1 per cent to $38.5 million from $30.8 million. Gross profit increased 20.1 per cent to $204.2 million.

The improvement marks a sharp turnaround from the company’s first quarter, when Hurricane Melissa disrupted business across sections of southern and western Jamaica and pushed revenue and profit lower.