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Company News

Canadian marijuana firm Canopy Growth posts bigger quarterly net loss

Nov 14 (Reuters) - Canopy Growth on Wednesday posted a bigger quarterly net loss on higher expenses as it spends more in the weeks before full legalisation of recreational use of marijuana in Canada in mid-October.

The Smiths Falls, Ontario-based company said its net loss widened to C$330.6 million ($249.77 million), or C$1.52 per share, in the quarter ended Sept. 30, compared with C$1.6 million, or 1 Canadian cent per share, a year earlier.

Revenue rose to C$23.3 million from C$17.6 million.

$1 = 1.3236 Canadian dollars Reporting by Shanti S Nair in Bengaluru;Editing by Arun Koyyur

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