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Green Impact Partners (TSXV: GIP) sees negative bottom line in Q1FY24 as revenue drops 13%
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Image source: © Almaterra | Megapixl.com
Highlights
Green Impact Partners Inc. (TSXV: GIP) operates as a clean energy company. It oversees a portfolio of water and solids treatment and recycling facilities across North America. The company’s project portfolio comprises clean energy development and renewable natural gas projects. The company has a market cap of CAD 74.26 million.
In Q1FY24, GIP's revenue dipped by around 13.3% compared to the same period in 2023. This decline was majorly due to a significant decrease of over 16% in revenue from its Energy Product Optimization Services. Likewise, due to increased operating expenses, the company faced higher losses from operations. Also, the company’s income before taxes was negative CAD 5.2 million against positive income before taxes of CAD 6.3 million in pcp, mainly due to loss from joint venture.
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