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Company News

Cannabis firm Tilray posts bigger quarterly loss

Aug 13 (Reuters) - Canada’s Tilray Inc posted a bigger quarterly loss on Tuesday, as the company ramped up investments to produce and sell more cannabis and grab a larger share of the nascent market.

The company’s net loss widened to $35.1 million, or 36 cents per share, in the second quarter ended June 30, from $12.8 million, or 17 cents per share, a year earlier.

Revenue rose to $45.9 million from $9.7 million. (Reporting by Debroop Roy in Bengaluru; Editing by Maju Samuel)

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