MTL Cannabis Corp's Q1 2024 Results: Net Revenue Up 121% Amid Strong Gross Profits
Portfolio Pulse from Nicolás Jose Rodriguez
MTL Cannabis Corp. (CSE:MTLC) reported Q1 2023 financial results, showing a 121% YoY increase in net revenue to $12,763,787 CAD. Gross profits reached $3,274,781 CAD, a rise from the previous year. However, operating income declined to $599,599 CAD. The company also reported net cash inflows from operating activities of $2,140,029 CAD, a significant improvement from a deficit in the same quarter last year.
August 28, 2023 | 2:48 pm
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MTL Cannabis Corp. reported strong Q1 2023 results with significant increases in net revenue and gross profits, despite a decline in operating income.
The company's strong financial performance, particularly the significant increase in net revenue and gross profits, indicates a positive growth trajectory. However, the decline in operating income could be a concern for investors. Overall, the news is likely to have a positive impact on the company's stock in the short term.
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IMPORTANCE 80
RELEVANCE 100