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Vineet Laboratories has announced a board meeting during which it approved the financial results for the quarter and half-year. The company posted a net loss of Rs 10.53 Cr, affected by Rs 7.12 Cr of slow-moving and obsolete inventory charged to raw materials and inventory changes. Revenue from operations declined to Rs 74.99 Cr from Rs 150.59 Cr year-on-year. Operating cash flow turned positive at Rs 11.49 Cr compared to an outflow last year. The Board also approved re-appointing Mr. Dilip Vishnu Acharekar as an independent director and proposed P S Rao & Associates as Secretarial Auditor for five years. The audit report was clean.