Sun Pharma Advanced Research Company today reported a net loss of Rs 2.51 crore for the first quarter ended March 31, 2014, mainly on account of increase in expenses during the period.
The company had posted a net profit of Rs 44.04 crore during the same period of previous fiscal, Sun Pharma Advanced Research Company Ltd (SPARC) said in a statement.
Total income of the company declined to Rs 42.57 crore during the first quarter, as compared to Rs 71.83 crore in the same period of previous fiscal.
The company's expenses during the quarter rose by 78.43 per cent to Rs 48.16 crore in the first quarter, as against Rs 26.99 crore during the same period of previous fiscal.
SPARC was demerged from Sun Pharmaceutical Industries Ltd as a research and drug discovery company in 2007.