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Sun Pharma Advanced Research Company today reported a net loss of Rs 9.74 crore for the first quarter ended June 30, 2014, due to increased spending on clinical trials and professional charges.
The company had posted a net profit of Rs 9.51 crore during the same period of the previous fiscal, Sun Pharma Advanced Research Company Ltd (SPARC) said in a statement.
Total income of the company during the April-June quarter declined marginally to Rs 35.85 crore. It was Rs 35.67 crore in the same period of the last fiscal.
SPARC spent Rs 27.23 crore on clinical trials and professional charges during the quarter under review as against Rs 7.82 crore in the same period last fiscal.
Shares of SPARC were trading at Rs 171.05 per share on the BSE during the afternoon trade, down 2.65 per cent from its previous close.
