The health and wellness industry has grown at a remarkable rate in recent years and one of the companies from the sector that could be watched closely by investors today is Neptune Wellness Solutions Inc (NASDAQ:NEPT).
The Neptune Wellness stock started the week strongly and soared by as much as 10% on Monday as investors flocked to it. That being said, there was no news about the company yesterday that might have resulted in the rally. Back on August 12 the company announced its financial results for the second fiscal quarter that ended on June 30, 2021 and it might be the right time to take a look at it.
The company managed to generate revenues to the tune of as much as $12.4 million in the quarter and that was an improvement on the $11.2 million that it had brought in the year ago period. In this regard, it is also interesting to note that the gross profits for the quarter actually dropped year on year to $2.9 million. In the prior year period, the gross profits had actually stood at $3.3 million. At this point, it might be a good move to keep an eye on any fresh news regarding the company.