Hyderabad-based pharmaceutical company Vimta Labs recorded a net loss of Rs 1.27 crore for the quarter ended December 31, 2008, as compared with the net profit of Rs 2.44 crore in the corresponding period last year.
Revenues for the quarter declined 21.81 per cent to Rs 16.31 crore, as compared with Rs 20.86 crore last year.
Earnings before interest, taxes, depreciation and amortisation for the quarter stood at Rs 3 crore from Rs 8.16 crore during the corresponding period last year.
Vimta Chairman and Managing Director SP Vasireddi attributed the dip in revenues and loss during the quarter to unprecedented delays in executing some of its projects, according to a company release.
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