Canopy Growth reports more than four-fold rise in fourth-quarter revenue

(Reuters) – Canadian pot producer Canopy Growth Corp reported a more than four-fold jump in quarterly revenue on Thursday, benefiting from higher sales following Canada’s legalization of recreational cannabis.

Net revenue of Canada’s biggest weed producer by market capitalization rose to C$94.1 million ($71.37 million) in the fourth quarter ended March 31, from C$22.8 million a year earlier.

(Reporting by Arundhati Sarkar and Ankit Ajmera in Bengaluru)