Sun Pharma Advanced Research Company today said it suffered a net loss of Rs 17.90 crore in the quarter ended December 31, 2011.
The company had reported a net loss of Rs 2.94 crore for the third quarter last fiscal, Sun Pharma Advanced Research Company (SPARC) said in a filing to the BSE.
Total income of the company stood at Rs 4.51 crore in the quarter ended December 31, 2011. It was Rs 12.17 crore in the corresponding period last fiscal.
The company said its shareholders have approved a rights issue to raise up to Rs 200 crore.
SPARC was demerged from Sun Pharma as a pharma research and drug discovery company in 2007.
Shares of Sun Pharma Advanced Research Company settled at Rs 86.45 apiece on the BSE today, up 3.84 per cent from their previous close.
