SPARC hits 52-week high on turnaround Q4 results
Q4 net profit at Rs 44 crore against net loss of Rs 21.58 crore in a year ago quarter.
Sun Pharma Advanced Research Company (SPARC) has surged 5% to Rs 151, extending its previous day’s 15% rally, after reporting net profit of Rs 44 crore for the fourth quarter ended March 31, 2013 on back of healthy growth in operational income.
The company engaged pharmaceutical research and development had loss of Rs 21.58 crore in year a ago quarter.
“Income from operations rose 1602% to Rs 71.83 crore in the quarter ended March 2013 as against Rs 4.22 crore during the previous quarter ended March 2012,” SPARC said in a statement.
For the full financial year 2012-13, net loss of the company more than halved to Rs 22.49 crore as against net loss of Rs 72.22 crore during the previous year ended March 2012.
The stock opened at Rs 154 and touched 52-week high of Rs 157 on NSE. A combined 1.9 million shares changed hands on the counter till early morning deals against sub 100,000 shares that were traded daily in past two weeks on NSE and BSE.
The company engaged pharmaceutical research and development had loss of Rs 21.58 crore in year a ago quarter.
“Income from operations rose 1602% to Rs 71.83 crore in the quarter ended March 2013 as against Rs 4.22 crore during the previous quarter ended March 2012,” SPARC said in a statement.
For the full financial year 2012-13, net loss of the company more than halved to Rs 22.49 crore as against net loss of Rs 72.22 crore during the previous year ended March 2012.
The stock opened at Rs 154 and touched 52-week high of Rs 157 on NSE. A combined 1.9 million shares changed hands on the counter till early morning deals against sub 100,000 shares that were traded daily in past two weeks on NSE and BSE.