SPARC Q2 net loss at Rs 8 cr

Company posted a net loss of Rs 24 crore for the corresponding period previous fiscal

Sun Pharma Advanced Research Company (SPARC)today reported a net loss of Rs 7.65 crore for the second quarter ended September 30, 2013.

The company had posted a net loss of Rs 24.12 crore for the corresponding period previous fiscal, the company said in a statement.

Income from operations of the company also rose to Rs 25.84 crore for the quarter under consideration from Rs 4.85 crore for the same period year ago, it added.

Formed in 2007, SPARC is a pharma research and drug discovery company. It came into existence when Sun Pharmaceutical Industries decided to separate its active projects in drug discovery and innovation into a new company.

Shares of Sun Pharma Advanced Research Company (SPARC) today closed at Rs 128.80 per scrip on BSE, down 2.61% from the previous close.