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Vivimed Labs Ltd is expected to clock about Rs 100 crore higher turnover in the fourth quarter due to the addition of revenues of Uquifa, Spain.
The Hyderabad-based company acquired the Spain-based active pharmaceutical ingredients maker in December last year and had shown an immediate increase in pharma segment turnover in the third quarter ended December 2011.
"Uquifa's revenue of about one month was added to our turnover in the third quarter. We are expecting an addition of Rs 100 crore turnover in the present quarter at about Rs 230-40 crore compared to the year-ago period," Mr Santosh Varalwar, Managing Director, Vivimed Labs, told Business Line .
Vivimed has already started backward integration of Uquifa by shifting its pharma ingredients production to India.
"Initially some of the key intermediates production is being shifted from Spain to our facilities here. We have also recruited some people with required skills in this regard," he said.
For operational efficiencies post integration, operations of Uquifa in the UK and Spain are being consolidated to Spain, he added.
Vivimed expects to achieve Rs 1,000 crore end of next financial year with an equal share of specialty chemicals and pharmaceuticals in revenue due to contributions from Uquifa.
Vivimed had a turnover of Rs 416 crore in the financial year 2010-11 and posted a net profit of Rs 49 crore.
Its scrip surged 3.25 per cent on the BSE on Friday to end at at 379.20.
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