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Hyderabad, April 21

Vimta Labs Ltd’s net profit decreased over 28 per cent to Rs 6.24 crore in the financial year 2007-08 against Rs 8.7 crore in the last fiscal. The total revenue, however, increased to Rs 78.89 crore (Rs 61.52 crore). The decrease in the profit was due to increase in total expenditure from Rs 45.34 crore in 2006-07 to Rs 66.17 crore in the year under review driven by higher employee costs and other expenditure. The earnings per share decreased to Rs 3 (Rs 4). As on Ma rch 31, 2008, the Hyderabad-based company had utilised Rs 75.73 crore out of the total proceeds of Rs 77.23 crore raised through preferential issue in the earlier years while the remaining Rs 1.5 crore was kept as a term deposit in State Bank of India, according to a release. The board had recommended 40 per cent dividend on equity shares of Rs 2 each for the year 2007-08.

— Our Bureau

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