Vimta Labs comes out of red

Total income grew 31.71% to Rs 26.54 crore during the quarter

Hyderabad-based Vimta Labs, a contract research and testing company, has reported Rs 1.24 crore net profit for the third quarter ended December 31, 2012. The company has reported Rs 3.77 crore net loss in the corresponding quarter last year.

Total income of the company grew 31.71% to Rs 26.54 crore during the quarter, as against Rs 20.15 crore in the corresponding quarter a year ago.

The total expenditure of the company has increased 6.49 % to Rs 24.92 crore in the third quarter, from Rs 23.40 crore in the same quarter last year.

During the last financial year, Vimta Labs had failed to execute projects worth Rs 30 crore due to global economic slowdown and the regulatory approvals in India. The company expects to cross Rs 100 crore revenue mark by end of this financial year, the company  told  Business Standard earlier this financial year.

 

Vimta Lab's scrip is currently trading at Rs 20 on BSE, up 5.82% over the previous close of Rs 18.90.