SPARC Q1 Results: Loss narrows sharply as revenue jumps multi-fold

Sun Pharma Advanced Research Company (SPARC) reported a marked improvement in its June-quarter performance on Monday, with its net loss narrowing significantly even as revenue jumped more than fourfold year-on-year.

The company reported a net loss of ₹20.78 crore for Q1, compared with a loss of ₹51.87 crore in the year-ago quarter. Revenue rose to ₹40 crore from ₹9.6 crore a year earlier.

The company’s EBITDA loss also narrowed to ₹27 crore, compared with an EBITDA loss of ₹48.2 crore in the corresponding quarter last year.

The improvement in revenue and narrowing of losses mark a stronger start to the financial year for SPARC, although the company remained in the red at both the net profit and operating levels.

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Post earnings announcement, shares of Sun Pharma Advanced Research Company Ltd were trading at ₹209.11 on the NSE as of 2:27 pm, down ₹4.10, or 1.92%.

Sun Pharma Advanced Research Company is a pharmaceutical research and development company focused on developing innovative medicines and therapies.

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