Home BusinessMoser Baer India Q1 net profit at Rs 2.76 cr
Moser Bear India, an optical storage manufacturer, posted a net proft of Rs 2.76 crore for the first quarter ended June 2009 as compared to net loss of Rs 103.98 crore for the quarter ended June 30, 2008.
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Total income has increased to Rs 563.40 crore from Rs 496.8 crore for the quarter ended June 30, 2008.
The company has reported a 12.96 per cent decrease in consumption of raw materials, alongwith an increase in stock in trade/ work in progess at Rs 33.12 crore up from Rs 12.78 crore in Q1FY09. Employee cost also rose 11.8 per cent year-on-year.
During the quarter, Moser Baer signed an agreement with Philips ending a series of disputes in multiple jurisdications pertaining to recordable CDs and DVDs, and entered into a licensing agreement with Philips on recordable CDs and DVDs, with effect from Jan 1st 2009.