Moser Baer Q2 net down by 87.40 pc
New
Delhi,
Oct
27:
Country's
leading
optical
storage
devices
maker
Moser
Baer
India
Ltd
today
said
its
net
profit
dropped
by
87.40
per
cent
to
Rs
3.27
crore
for
the
quarter
ended
September
30,
as
compared
to
Rs
25.97
crore
for
the
same
quarter
a
year
ago.
Total income of the company decreased by 4.46 per cent to Rs 490.33 crore for Q2 FY2007-08 against Rs 513.25 crore for the corresponding period in 2006, a company statement said.
''The optical media performance has been affected by one time factors during the quarter. Despite the short term blip, the media business will continue to grow in long term, incrementally driven by next generation formats,'' Moser Baer India Executive Director Ratul Puri said.
Long term media industry variables remain positive with the business remaining significantly cashflow accretive. While the Photovoltaic and Entertainment business will further add Rs 560 crores to Rs 640 crores to consolidated revenues during the year, Moser Baer India Group CFO Yogesh Mathur said.
UNI