Moser Baer Reports Rs. 27.60 Million Profit For Q1-10
Moser Baer has reported a standalone net profit of Rs 27.60 million for the quarter ended June 30, 2009 as compared to net loss of Rs (1039.80) million for the quarter ended June 30, 2008. Total Income has increased to Rs 5634.00 million from Rs 4968.80 million for the quarter ended June 30, 2008. The company, which primarily manufactures optical storage media, reported a 12.96% decrease in consumption of raw materials, alongwith an increase in stock in trade/work in progress at Rs. 331.2 million, up from Rs. 127.8 million in Q1-09. Employee cost also rose 11.8 percent 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.
Spice Mobile Reports Rs. 86 million Profit; STPL Owns 63.25%
Handset Manufacturer Spice Mobile has reported a net profit of Rs. 86 million, as compared to a loss of Rs. 5 million reported for the same quarter last year. The company also reported a 42.83 percent year on year increase in revenue, at Rs. 1824 million, up from Rs. 1277 million for the same quarter last year. Stock in trade for the company declined 36% to Rs. 78 million. For the telecom segment, the company reported an EBITDA profit of Rs. 126 million for the quarter, as compared to a loss of Rs. 5 million reported in Q1-09.
According to the filing, Post completion of the acquisition of shares Spice Enfotainment Limited and Twenty First Century Capitals Limited, and from the public shareholders under the Open Offer, Spice Televentures Pvt. Ltd. (STPL), has increased its holding from 20.18% to 63.25% in the Company.
Telecom equipment and services company Shyam Telecom – not to be confused with Shyam Telelink which is now known as MTS – has reported an 84% decline in profit, from Rs. 10.16 million to Rs. 1.54 million. Sales were up: at Rs. 678.44 million, up 20.17% year on year from Rs. 564.52 million. Consumption of raw materials for the company increase from Rs. 50.72 million in Q1-09 to Rs. 90.21 million in Q1-10, contributing to an 18% increase in total expenditure.
Their telecom segment reported an EBITDA profit of Rs. 30.82 million, up from Rs. 9.03 million in Q1-09, with revenue of Rs. 235.86 millon, almost doubling year on year.