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Company News

Canopy Growth's quarterly loss narrows due to cost cuts, demand boost

Aug 10 (Reuters) - Canadian pot producer Canopy Growth Corp said on Monday its quarterly loss narrowed from a year earlier, as restructuring helped rein in costs and coronavirus-related lockdowns lifted demand for cannabis products.

Ontario-based Canopy’s net loss attributable to the company narrowed to C$108.5 million ($81.05 million), or 30 Canadian cents per share, in the first quarter ended June 30, compared with C$185.9 million, or 54 Canadian cents per share, a year earlier. ($1 = 1.3387 Canadian dollars) (Reporting by Shariq Khan in Bengaluru; Editing by Vinay Dwivedi)

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