Sun Pharma Advanced Research Reports ₹107.3 Crore Net Loss in Q2

6 Nov 2024 , 12:58 AM

Sun Pharma Advanced Research Company (SPARC) Ltd, based in Mumbai, reported a net loss of ₹107.3 Crore for the second quarter ending September 30, 2024. This marks an increase in losses compared to the net loss of ₹86.4 Crore reported in the same quarter of the previous fiscal year.

At the time of closing on November 5, 2024 shares of Sun Pharma Advanced Research Company (SPARC) Ltd closed at ₹209 which is a 2.33% gain than the previous close. Sun Pharma Advanced Research Company (SPARC) Ltd stock has dropped a total of 13% in the last one year, and 31% dip since the beginning of the year.

The company’s revenue from operations saw a significant decline of 39%, dropping to ₹12.9 Crore from ₹21.2 Crore in the corresponding period last year.

At the operating level, the EBITDA loss amounted to ₹102.9 Crore, a worsening from a loss of ₹91.4 Crore in the previous fiscal quarter. EBITDA refers to earnings before interest, tax, depreciation, and amortization, and is a key indicator of operational performance.

The substantial revenue decline reflects challenges in the company’s business operations and market conditions. The results were disclosed in a regulatory filing, highlighting the ongoing financial struggles faced by the Mumbai-based pharmaceutical firm as it navigates a competitive industry landscape.