Sun Pharma Advanced Research Company Ltd's Q2FY19 standalone net loss narrows to Rs2.58cr yoy : Misses Estimates

The company’s standalone revenue stood at Rs61.35cr, up 299.41% yoy and 264.96% qoq.

Oct 29, 2018 08:10 IST India Infoline Research Team

Sun Pharma Advanced Research Company Ltd Q2FY19

Standalone Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 61.35 299.4
EBITDA 5.20 0.0
EBITDA Margin (%) -8.5 39,165
Net Loss (adjusted) 2.58 0
***EBITDA margin change is bps
Sun Pharma’s research subsidiary, SPARC’s revenue in Q2FY19 grew by 299% yoy to Rs61.35cr. Company reported loss of Rs5.2cr at EBITDA level in Q2FY19 vs. loss of Rs63.8cr in Q1FY19 and loss of Rs61.5cr in Q2FY18. Net loss stood at Rs2.6cr in Q2FY19 vs. net loss of Rs62.6cr in Q2FY18. As this is a research subsidiary, it's performance depends upon the launches of the novel molecules, which get launched from its pipeline. Company, in September 2018 has received USFDA approval for its first novel drug Xelpros.

Technical View:

Sun Pharma Advanced Research Company Ltd ended at Rs. 300.15, up by 10.3 points or 3.55% from its previous closing of Rs. 289.85 on the BSE.
The scrip opened at Rs. 291 and touched a high and low of Rs. 303 and Rs. 289 respectively. A total of 1,77,211 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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