Hempalta Corp Reports Revenue Growth Amid Losses

Hempalta Corp (TSE:HEMP) has released an update.

Hempalta Corp. has reported a significant revenue growth of 30% and 26% for the three and six months ended March 31, 2024, respectively, following its expansion in hemp-based product production and distribution. Despite the revenue increase, the company experienced a net loss of $512,461 for the quarter, attributed to higher costs of raw materials, labor, and maintenance. This report comes after Hempalta’s acquisition of a global Industrial Hemp Carbon Credits platform and its transition from Trail Blazing Ventures Ltd.

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