Drugmaker Paladin Labs Inc posted a higher profit in the second quarter, helped by a one-time gain.
For the quarter, the company earned C$27.7 million, or C$1.71 per share, compared with C$2.6 million, or 17 Canadian cents a share, a year ago.
Excluding a gain of C$26.0 million, the company's profit fell to C$1.7 million, or 11 Canadian cents a share, from the year-ago period.
Revenue rose 27 percent to C$26.2 million on strong performance of its key promoted products.
The company, which recently completed a C$58 million equity financing, said it was on track to achieve more than C$100 million revenue for the year.
Shares of the company closed at C$19.25 Monday on the Toronto Stock Exchange.
(Reporting by Ashutosh Joshi in Bangalore; Editing by Vinu Pilakkott)