IGC Reports 125% Revenue Increase in Quarterly Results

India Globalization Capital (IGC) (NYSE American:IGC) announced its financial results for the second quarter ended on September 30, 2019.

As quoted in the press release:

Revenue for the September 2019 quarter rose 125% to approximately $1.8 million compared to approximately $0.81 million reported in the September 2018 quarter. In the September 2019 quarter, 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, accounted for 20% of the quarter’s revenue versus zero a year ago.

The remaining 80% of the revenue was primarily derived from the Company’s India-based infrastructure business which consists of (i) rental of heavy equipment, (ii) execution of construction contracts, and (iii) sale of infrastructure commodities.

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