Moser Baer India Ltd reported a March quarter loss on lower revenues and due to the impact of a sharp rise in commodity prices such as silver, poly carbonate and heavy fuel oil.
The company reported a net loss of Rs 131 crore on revenues of Rs 448.47 crore for the March quarter against a profit of Rs 6.3 crore on revenue of Rs 527.3 crore in corresponding period last year. In the December quarter, the company had reported a net loss of Rs 115 crore on revenue of Rs 441 crore.
For the year-ended March 2011, the company reported a net loss of Rs 406.42 crore on revenue of Rs 1872.87 crore against a loss of Rs 36.36 crore on revenue of Rs 2,260 crore in the previous year.
However, the company reported a 14.3 per cent growth in shipment volume in storage media business over previous quarter, which signals recovery of demand supply balance led by regular formats.
Shares of MBIL gained 2.74 per cent higher to close at Rs 43.10 on the BSE on Friday.