SPARC Reports Negative Financial Results, Receives 'Strong Sell' Rating
Sun Pharma Advanced Research Company (SPARC), a midcap pharmaceutical company, recently announced its financial results for the quarter ending June 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, SPARC has seen a negative performance in the quarter, with a score of -17, which has improved from -27 in the last 3 months. The company's profit after tax (PAT) for the half-yearly period has decreased by 53.42% year on year, with a total of Rs -201.69 crore. The near-term trend for PAT is also negative.
In terms of net sales, SPARC has reported a decrease of 11.0% in the quarterly period, with a total of Rs 16.81 crore. This is lower than the average net sales of the previous four quarters, which was Rs 18.89 crore. The near-term trend for sales is also negative.
Furthermore, SPARC's operating cash flow for the year has been the lowest in the last three years, at Rs -429.43 crore. This indicates a decline in the company's cash revenues from business operations.
Overall, the financial results for the quarter ending June 2024 have not been favorable for SPARC. The company's stock has been given a 'Strong Sell' rating, indicating a negative outlook. Investors and stakeholders should closely monitor the company's performance in the coming months.
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