Financial Daily from THE HINDU group of publications
Sunday, Oct 31, 2004
Financial Daily from THE HINDU group of publications Sunday, Oct 31, 2004 |
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Corporate Results
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Hardware Info-Tech - Financial Performance Moser Baer profit falls 78 per cent Our Bureau
New Delhi , Oct. 30 MOSER Baer on Saturday reported a 78.7 per cent dip in its net profit for the quarter ended September at Rs 17.5 crore compared to Rs 82.2 crore in the year-ago period. "The pricing pressure on optical media coupled with temporary build up of inventory in trade channels had impact on both volume and realisation. Net earnings after tax for the second quarter at Rs 17.5 crore represented a sharp fall both over Q2 of 2003-04 and sequential," a company release said here. Its gross revenues during the period in reference stood at Rs 253.5 crore against Rs 380.5 crore in the corresponding period previous year. According to Moser Baer, the global optical storage media industry experienced severe pricing pressure in Q1 of 2004-05, a trend that continued into Q2 of 2004-05. ``Demand picked up substantially towards the end of the quarter and we are seeing strong volume movement in the third quarter,'' he added.
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