New Delhi, April 28
MOSER Baer India Ltd today posted a 66.6 per cent dip in net profit for the fourth quarter ended March 2005 to Rs 24.52 crore, compared to Rs 73.43 crore in the same quarter last year, primarily due to rise in input costs.
Total income increased to Rs 411.82 crore (Rs 369.97 crore), the company said in a notice to the Bombay Stock Exchange.
For the full year it registered a net profit of Rs 58.37 crore, compared to Rs 324.43 crore for the previous year.
Mr Ratul Puri, Executive Director, said: "The increase in polycarbonate prices was far higher than expected or anticipated by optical storage media manufacturers. And while Moser Baer drove price increases with its OEM customers, it was not enough to compensate for the hefty increase in PC prices. We continue to watch the polycarbonate supply and pricing equation very closely and this remains an area of prime concern." Giving its medium term revenue guidance over the next three years, the company said that it expects to grow revenues at a compounded annual growth rate (CAGR) of 25-35 per cent.
"Most of the growth in revenues is expected to come from the DVD segment as recordable and re-writeable DVDs become the mainstay of consumer removable data storage medium," the company said.