The Hindu Business Line : Moser Baer PAT up 49% in Q1

Optical storage media major Moser Baer India posted a 49 per cent rise in net profit for the first quarter ended June 2007 at Rs 9.6 crore on the back of better cost management and hedging.

The company’s gross revenues for in the first quarter of the financial year 2008 stood at Rs 492.2 crore, an increase of 3.5 per cent over the same period previous year, primarily on account of rupee appreciation.

The EBITDA at Rs 153.2 crore grew 26.8 per cent over the year-ago period, even as the EBITDA margin during the quarter at 30.6 per cent, represented a substantial increase over the first quarter of the financial year 2007 at 24.8 per cent, a company release said here. “Despite the sharp negative influence of the rupee appreciation during the traditional summer slowdown, the optical media business performance remains satisfactory. The entertainment business is growing ahead of expectations and is a highly scalable business. The other key positive during the quarter is the commencement of shipments by the photovoltaic business,” said Mr Ratul Puri, Executive Director, Moser Baer India.

The company’s Profit before Tax (PBT) stood at Rs 12.1 crore against Rs 6.7 crore in the corresponding period previous year, representing 80 per cent growth in profits. “This has been possible due to aggressive cost reductions and increasing production efficiencies,” the statement said.

Related Stories:
Moser Baer Q1 net at Rs 6.4 cr

More Stories on : Financial Performance | Hardware

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Moser Baer PAT up 49% in Q1