SPARC's net loss widens to Rs 36 crore

SPARC reported widening of standalone net loss to Rs 36.41 crore for the first quarter ended June 30. The company had posted a net loss of Rs 1.65 crore for the corresponding period of the previous fiscal. 

SPARC's net loss widens to Rs 36 crore
It's standalone total income from operations for Q1FY17 has also declined by 50.55% to Rs 21.48 crore. Photo: Pixabay

Sun Pharma Advanced Research Company (SPARC), the pharma research and drug discovery arm of Sun Pharma reported widening of standalone net loss to Rs 36.41 crore for the first quarter ended June 30.

The company had posted a net loss of Rs 1.65 crore for the corresponding period of the previous fiscal, SPARC said in a BSE filing.

It's standalone total income from operations for Q1FY17 has also declined by 50.55% to Rs 21.48 crore as against Rs 43.44 crore for the same period year ago.

SPARC also reported operating (EBITDA – earnings before interest tax depreciation and amortization) loss of Rs 36.11 crore.

Shares of Sun Pharma Advanced Research Company closed 3.70 per cent lower at Rs 361.80 on BSE.

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Written By: PTI
Updated: Fri, Jul 29, 2016
04:10 PM IST
Mumbai, PTI
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