Moser Baer Q4 net slumps 66.6%

By agencies   |   Friday, 29 April 2005, 07:00 Hrs
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NEW DELHI:Moser Baer India Ltd today posted a 66.6 percent dip in net profit for the fourth quarter ended March 2005 to Rs 245 million, compared to Rs 734 million in the same quarter last year, primarily due to rise in input costs.

Total income increased to Rs 4.11 billion, the company said. For the full year it registered a net profit of Rs 583 million, compared to Rs 3.24 billion for the previous year.

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 percent.

"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.

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