SPARC Q4 net loss widens to Rs 9.6 cr

Sun Pharma Advanced Research Company (SPARC), the pharma research and drug discovery arm of Sun Pharma, today reported a slight increase in its stand-alone net loss at Rs 9.58 crore for the quarter to March 2016.
The company had run up a net loss of Rs 9.40 crore for the same period a year ago, SPARC said in a filing to BSE.
Stand-alone total income from operations stood at Rs 41.2 crore for the quarter under consideration. It was Rs 42.70 crore for the year-ago period.
For the fiscal year ended March, the net loss stood at Rs 69.9 crore. It was Rs 39.5 crore for the same period a year earlier.

Stand-alone total income from operations was at Rs 161.3 crore for the recently-concluded fiscal. It was Rs 155.7 in the previous year.
In a separate filing, SPARC said its board has "approved the re-appointment of Dilip Shanghvi as the managing director of the company for a further five years after the end of his present tenure i.E. From March 1, 2017".
Shares of Sun Pharma Advanced Research Company today closed at Rs 292.45 per scrip on BSE, up 0.79 per cent from its previous close.