China Jo-Jo Drugstores Inc. (CJJD) stock rises during pre-market session. Let’s find out why:

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China Jo-Jo Drugstores Inc. (NASDAQ: CJJD) stock showed a decline of 0.89% in the last trading close whereas the CJJD stock price rises by 8.11% during pre-market trading session. There is no recent news hitting the media related to the rise in CJJD stock price. Whereas the change in CJJD stock might be followed by the financial results of third quarter fiscal 2021 that is announced on February 12 by China Jo-Jo drugstore. CJJD is a well-known retailer and wholesale distributor of health care and drugstore products through both online and offline ways, in China. CJJD also provides healthcare services.

Financial results for Third quarter fiscal 2021

  • China Jo-Jo Drugstore has generated the revenue of $35.54 million for the third quarter ended December 31, 2020. The revenue has increased by 6.5 % since it was $33.36 million for the third quarter of fiscal 2020. The increase in revenue is mainly due to the growth in online pharmacy business.
  • Gross Profit is recorded as $8.09 million for the third quarter fiscal 2021 as compared to $7.28 million for the same period of last year. This means that the gross profit of CJJD has increased by 11.0%.
  • The Gross margin for CJJD has also increased by 1 %. For the third quarter fiscal 2021 the gross margin is 22.8% whereas it was 21.8% for the same time period of last year.
  • Lastly the net loss for CJJD was $6.29 million or $0.15 per basic and diluted share for the three months ended on December 31, 2020. For the previous year the net income was $0.46 million or $0.02 per basic and diluted share.

Conclusion

Company’s year to date financial results shows that CJJD has made progress.Therefore it is expected that they will continue to grow in the same manner especially due the online pharmacy system because after the COVID-19 pandemic situation it is extremely convenient for people to get what they need without stepping out.

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