Vimta Labs rose 2.78% to Rs 525.25 after the company secured a grant of Rs 4.09 crore from the Ministry of Food Processing Industries (MoFPI) to upgrade its food testing laboratory.
The facility is located at Vimta Life Sciences Facility, Genome Valley, Shameerpet, Hyderabad, Telangana.This Grant in aid (GIA) will be used to modernise Vimta Labs' food testing capabilities, potentially enhancing their services and analysis accuracy. The project is expected to be completed by 1 March 2026.
Vimta Labs acts as a scientific and regulatory partner for various industries like food, agriculture, pharmaceuticals, and more. The company provides comprehensive services including contract research and testing throughout product development and manufacturing, clinical diagnostics for medical purposes, and environmental assessments to ensure product and process safety.
On a consolidated basis, net profit of Vimta Labs declined 1.07% to Rs 10.13 crore on 5.56% rise in net sales to Rs 81.68 crore in Q3 December 2023 over Q3 December 2022.
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