Net profit rose 25.1% ($38.5 million) in just ended Q3

Durrant Pate/Contributor

Montego Bay pharmaceuticals distributor, Indies Pharma, continued its recovery from the fallout caused by Hurricane Melissa in October last year, with net profits growing by 25% to $38.5 million for the July 31st ended third quarter.

During the period, Indies Pharma earned gross sales of $292.4 million, up from 260 million in the prior year, an increase of 12.4%. Earnings per share is up 25.1% at $0.029, up from $0.023 in 2025.

The management reports that the current revenue performance indicates a visible trajectory toward recovery following the adverse impacts of Hurricane Melissa, which suppressed projected revenue growth in the first quarter of the current fiscal year. The recovery is reflected in the company’s improved third-quarter performance. 

Year-to-date revenue increased marginally 

Notwithstanding this sequential improvement, year-to-date revenue increased marginally from $856 million in 2025 to $857 million as of July 31, 2026. This performance indicates that the company continues to recover from the disruption caused by the hurricane. 

Net profit for the combined three quarters declined by 28.5% ($48 million) to $120.5 million, down from $168.5 million in 2025. Despite the improvement in revenue performance.

Total assets as of July 31, 2026, were valued at J$3.147 billion, an increase of J$364 million, or 13.1%, compared to the J$2.783 billion recorded during the corresponding period in 2025. This appreciation is due to the capital gain recognised from the recent revaluation of the 3-acre property designated for the construction of the Indies Pharma corporate headquarters and Investment property held for sale. 

Furthermore, this asset growth highlights the company’s continued robust financial position. Shareholders’ Equity increased by 2.2% to $ 1.754 billion for the nine months ended, compared to $1.717 billion to the corresponding period in 2025.  

At the same time, total liabilities were recorded in the current year 2025-26 with a value of J$ 1.392 billion for 2024-25 of J$ 1,065 billion, an increase of 30.7%. This increase is due to the renewed bond of $1-billion which was used to retire a bond of J$805 million.