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Our Bureau

Hyderabad , April 24

Vimta Labs Ltd, the Hyderabad-based contract research and clinical trials company, has suffered a decline in its net profit for the fiscal ended March 2006, despite a marginal increase in turnover.

As per the audited financial results taken on record here on Monday, the company posted a turnover of Rs 54.2 crore against a turnover of Rs 52.19 crore in the previous fiscal, other income of Rs 36.32 lakh (Rs 8.49 lakh) and a net profit of Rs 13.49 crore (Rs 14.12 crore). This has yielded an EPS of Rs 7 (Rs 39) on an expanded equity of Rs 4.42 crore (Rs 2 face value per share) against Rs 3.6 crore equity of face value of Rs 10 each. The board has recommended a dividend of 40 per cent for the year, which works out to Rs 0.80 per share on equity shares of Rs 2 each. The company's new life sciences facility at the Biotech Park in Genome Valley here is nearing completion. As a part of the expansion programme, Vimta Labs has initiated the setting up of an advanced molecular research facility for genomics and proteomics.

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