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Stock impact report

IGC Reports Financial Results for the Quarter Ended December 31, 2019

IGC Pharma, Inc. (IGC) 
NASDAQ:AMEX Investor Relations: igcinc.us/investor-center/overview
Company Research Source: Business Wire
BETHESDA, Md.--(BUSINESS WIRE)--India Globalization Capital, Inc. (NYSE American: IGC) today announced financial results for the quarter ended December 31, 2019, which is the third quarter of its 2020 fiscal year.Revenue amounted to approximately $573 thousand and $1,285 thousand, for the three months ended December 31, 2019 and December 31, 2018 respectively. Revenue for the December 2019 quarter was primarily derived from our Infrastructure Business on the execution of a road building contract in Kerala, India, and the buying and selling of infrastructure materials. In the three months ended December 31, 2019, sales in the Plant and Cannabinoid Business, consisting of the sale of cannabinoid products under the brands Holi Hemp™ and Hyalolex™, in accordance with applicable law and regulations, contributed $5 thousand in revenue. The lower revenue in the Plant and Cannabinoid Business is due to management’s focus on developing a wide array of products and the hemp growing, and man Show less Read more
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