Vimta Labs posts impressive Q2 numbers; hits upper circuit

Vimta Labs was locked at 20 per cent upper circuit at Rs 163.50 per share on the BSE on Friday after the company reported stellar Q2 numbers.

In the second quarter of FY18, Vimta Labs reported Rs. 43.3 million vis-à-vis Rs. 21.8 million a year ago, thus almost doubling its profit.

The company’s revenue from operations during the quarter increased 13.3 per cent to Rs 42.7 crore as compared to Rs 37.6 crore in the same period last year.

EBITDA for the company zoomed over 93 per cent to Rs 11.9 crore on year-on-year basis, whereas, the margin expanded by 1,150 basis points to 27.8 per cent in Q2FY18.

Vimta Labs is one of the leading CRO in India, providing clinical research & development services to global pharmaceutical and biotechnology companies.

At 13:00 hours Vimta Labs quoted Rs. 163.50 per share, up Rs 27.25 or 20 per cent on the BSE. The stock attracted a total traded volume of 2,25,418 shares on the BSE. The share touched its 52-week high of Rs 164.40 and 52-week low of Rs 95.00 on July 13, 2017 and December 15, 2016, respectively.