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.