Sun Pharma Advanced Research net loss widens to Rs 81.99 crore in Q4
New Delhi: Sun Pharma Advanced Research Company Ltd on Monday said its net loss widened to Rs 81.99 crore in the fourth quarter ended March 2023, impacted by higher expenses.
Its revenue from operations stood at Rs 47.69 crore compared to Rs 25.24 crore in the year-ago period, it added.
The total expenses in the fourth quarter were higher at Rs 140.41 crore against Rs 96.51 crore in the same period a year ago.
The company further said that during the quarter, it paused the development of the 'SC0-120' programme due to changing clinical landscape as a result of which it has made provision for committed costs for this programme estimated at Rs 27 crore.
For FY23, the company said its net loss stood at Rs 222.58 crore. It was at Rs 203.4 crore in FY23.
The revenue from operations in FY23 was Rs 238.78 crore compared to Rs 137.25 crore in FY22.
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Sun Pharma Advanced Research Company (SPARC), a clinical stage bio-pharmaceutical company was formed in 2007 through a demerger from Sun Pharma.
