Moser Baer Q1 net down 77%

By agencies   |   Friday, 29 July 2005, 07:00 Hrs
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NEW DELHI: Moser Baer has posted a net profit of 111.5 million in the quarter ended in June 30, 2005, against 480.8 million in the same period of last year.

The Company has posted a gross revenue in Q1 of FY06 at Rs 3.64 billion, an increase of 17.7 percent over Q1 of FY05. Its sequential revenue growth is lower by 13.6 percent mainly due to the traditional summer slowdown in shipment volumes. While Ebidta at Rs850.16 million remains below Q1 of FY05 level, a key highlight is the sharp recovery of 30.7 percent in Ebitda sequentially.

The Company said that, this is despite lower revenue growth and an increase in average prices of polycarbonate compared to Q4 of FY05. Consequently, Ebitda margin (excluding other income) at 20.9 percent in Q1 of FY06 has recovered significantly from 13.6 percent in Q4 of FY ’05. Key drivers are increasing contribution and margins of DVD-R formats and overall improvement in operational efficiencies.

The company said that, it has significantly reduced losses at the pre-tax level to Rs138.7 million in Q1 of FY06, against a loss of Rs 292.9 million in Q4 of FY05, despite higher fixed costs. However, the quarter was still a challenging one as compared to Q1 of FY05.

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