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.
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.