Vimta Labs (524394) Q4 03/04 earnings summary

Executive summary

• FY04 gross revenue rose 81% YoY to Rs3,511.37 lakh; net profit after tax was Rs835.33 lakh, versus Rs210.72 lakh in FY03.

• Record export turnover reached Rs1,145.78 lakh, up from Rs363.46 lakh; demand remained strong across testing and contract research services.

Financial highlights

• Revenue from operations was Rs3,511.37 lakh versus Rs1,938.24 lakh; profit before tax was Rs1,267.33 lakh versus Rs352.72 lakh.

• Reported profit after tax was Rs835.33 lakh; after the deferred-tax adjustment, the year-end profit figure was Rs850.11 lakh, versus Rs206.74 lakh in FY03.

• EBITDA was Rs1,655.56 lakh, or 47% of revenue, versus Rs596.83 lakh, or 30%, in FY03.

• Basic and diluted EPS were Rs24 per share, versus Rs6 in FY03; the interim dividend of Rs1.50 per share, or 15%, was treated as final.

Outlook and guidance

• Under normal conditions, growth rates achieved over the prior four years were expected to continue; exports were expected to improve.

• The expansion at S P Biotech Park, Genome Valley, was planned to raise operating capacity to five times the existing level.