Sun Pharma Advanced Research Company (SPARC), a bio-pharmaceutical company, on Monday reported widening of net loss to Rs 63.16 crore for the second quarter ended September 30, 2019.
"The pharma company had posted net loss of Rs 2.58 crore for the second quarter of financial year 2018-19," SPARC said in a filing to the Bombay Stock Exchange (BSE).
Total income declined sharply by 70.49 per cent to Rs 19.45 crore during the second quarter as compared with Rs 65.92 crore in the year-ago period. The other income fell to Rs 2.26 crore as compared to Rs 4.57 crore during the July-September quarter of last financial year.
The revenue from operation stood at Rs 17.19 crore in Q2FY20 versus Rs 61.35 crore in Q2FY19.
The total expenses of the company increased to Rs 82.61 crore from Rs 68.50 crore in the same period last year, impacted by rise in clinical trial expenses.
Following Q2 earnings, shares of Sun Pharma Advanced Research Company closed 1.88 per cent higher at Rs 146.05 apiece on the Bombay Stock Exchange on Monday.
Edited by Chitranjan Kumar