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Canopy Growth posts smaller core loss in second quarter

Nov 9 (Reuters) - Canopy Growth Corp on Monday reported a smaller core loss in the second quarter, as the world’s largest pot producer benefited from cost cuts and more people turning to cannabis to cope with coronavirus-related lockdowns.

On an adjusted basis, the company posted a loss before interest, taxation, depreciation and amortization of C$85.7 million ($65.86 million) for the three months ended Sept. 30, compared with a loss of C$150.4 million a year earlier. ($1 = 1.3012 Canadian dollars)

Reporting by Rithika Krishna; Editing by Shinjini Ganguli

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