IGC Revenue Drops 55.8% In Fiscal 2022, What About Gross Profit?

India Globalization Capital, Inc. (AMEX:IGC) revenue in fiscal was $397,000, a 55.8% decrease compared to $898,000 in fiscal 2021.

Fiscal Financial Highlights

  • Gross margin increased from 12% in fiscal 2021 to 48% in fiscal 2022.

  • Gross profit was $194,000, an increase of 71.68% compared to $113,000 in fiscal 2021.

  • Net loss was approximately $15 million, compared to approximately $8.8 million or in fiscal 2021.

  • Selling, general, and administrative expenses consist increased by approximately $5.3 million or 68% to $13.2 million for fiscal 2022, from approximately $7.9 million for fiscal 2021.

  • Research and development expenses increased by approximately $1.4 million or 151% to $2.3 million in fiscal 2022, from approximately $929,000 for fiscal 2021. The increase is attributed to the now completed Phase 1 clinical trial on Alzheimer’s. The company expects R&D expenses to increase with progression in Phase 2 trials on IGC-AD1 and pre-clinical trials on TGR-63.

Fiscal Other Highlights

  • IGC …

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