SPARC reports Q1 net loss at Rs 11.26 crore

NEW DELHI: Sun Pharma Advanced Research Company (SPARC) today posted a net loss of Rs 11.26 crore for the first quarter ended June 30, 2011. The company had posted a net profit of Rs 48 lakh in the same period previous fiscal, SPARC said in a statement.

The company's total income stood at Rs 10.08 crore in the June quarter, while the same was Rs 14.73 crore in the corresponding period of last financial year.

SPARC was demerged from Sun Pharma as a pharma research and drug discovery company in 2007.

Shares of SPARC were trading at Rs 81.95 on the Bombay Stock Exchange in late afternoon trade, down 3.64 per cent from its previous close.