The Hindu Business Line : Vimta net up at Rs 14.12 cr

HYDERABAD: Vimta Labs Ltd (VLL), the Hyderabad-based contract research organisation, has registered a substantial growth in sales turnover and net profit for the fiscal ended March 31, 2005.

While announcing the audited financial results here on Wednesday, the board has recommended a final dividend of Rs 4 per equity share of Rs 10 each, which includes an interim of Rs 2 per share declared earlier.

The company has posted income from operations of Rs 52.19 crore during the fiscal under review against Rs 35.11 crore in the previous fiscal and a net profit of Rs 14.12 crore (Rs 8.5 crore), yielding an earnings per share of Rs 39 (Rs 24). The company has a reserves position of Rs 24.64 crore (Rs 12.15 crore) on an equity base of Rs 3.6 crore.

Announcing the results at a press conference, the VLL Chairman and Managing Director, Dr S. P. Vasireddi, said the company is attracting outsourcing opportunities from the global market. The company hopes to earn up to 50 per cent of its total business from overseas contracts, which stand at 40 per cent now. It also hopes to maintain the growth rates recorded during fiscal 2004-05.

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