Ind-Swift Laboratories, a Rs.1,000 crore plus pharma giant from Chandigarh, has reduced its net loss to Rs.7.90 crore during the first quarter ended June 2013 from Rs.43.33 crore in the corresponding period of last year due to lower raw material consumption. However, its net sales declined by 17.8 per cent to Rs.248.97 crore from Rs.302.71 crore. The earnings per share worked out to negative Rs.2.01 as against negative Rs.11.11 in the last period.

Its staff cost increased to Rs.10.59 crore from Rs.7.39 crore. Its raw material cost, including stock adjustments and purchases, declined to Rs.181.76 crore from Rs.280.88 crore. Interest cost remained almost same at Rs.27.22 crore as against Rs.26.05 crore in the same quarter of last year. It registered  forex gain of Rs.0.55 core as compared to Rs.4.25 crore.

For the full year ended March 2013, Ind-Swift Labs reported net sales of Rs.1,083 crore and it incurred a net loss of Rs.118.97 crore.