Vimta Labs (524394) Q4 99/00 earnings summary

Executive summary

• Returned to profitability after three years, with operating profit of Rs.93.98 lakh before interest and depreciation and net profit of Rs.7.37 lakh on turnover of Rs.410.92 lakh.

• IDBI accepted a one-time settlement; the full Rs.410.42 lakh was paid by August 3, 2000, clearing the IDBI term loan debt.

Financial highlights

• Operating revenue was Rs.410.92 lakh, up from Rs.294.01 lakh in FY1998-99; domestic testing and analysis contributed Rs.405.97 lakh and exports Rs.4.95 lakh.

• Net profit was Rs.7.37 lakh, versus a net loss of Rs.264.17 lakh in the prior year; profit before amortization and prior-period adjustments was Rs.20.46 lakh.

• Finance charges fell to Rs.31.09 lakh from Rs.196.39 lakh; depreciation was Rs.42.43 lakh, versus Rs.42.32 lakh.

Outlook and guidance

• Current-year performance was described as encouraging; a state-level franchise scheme had launched, with a nationwide rollout planned.

• Laboratory Information Management Systems (LIMS) were installed to improve efficiency from sample management through reporting; the franchise network was expected to expand customer access.