Vimta Labs rose 0.44% to Rs 90.65 after the company said it completed the acquisition of 100% stake in Emtac Laboratories, making it a wholly owned subsidiary.
Vimta Labs has completed acquiring 34.16 lakh equity shares, or 100% stake of Emtac Laboratories within 4 months' time period. The company has completed the process within the stipulated time. Emtac Laboratories is now a wholly owned subsidiary of Vimta Labs. The announcement was made during trading hours today, 5 March 2020.
Vimta Labs' standalone net profit fell 8% to Rs 4.71 crore on a 1.6% increase in net sales to Rs 51.48 crore in Q3 December 2019 over Q3 December 2018.
Vimta Labs provides services of testing and contract research in the fields of clinical and pre-clinical studies, clinical reference, analytical testing, advanced molecular biology and environmental studies. It supports regulatory authorities in mandatory certification of food and agricultural products exported from India.
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