Moser Baer Q2 net up 68.2%

NEW DELHI: Moser Baer India Ltd., the world's fifth-largest optical compact

disc maker, reported on Monday that second-quarter net profit soared 68.2 per

cent on the back of booming global demand for its products.

New Delhi-based Moser said July-September profit jumped to Rs 541.30 million

($11.25 million) or Rs 11.18 per share from Rs 321.80 million or Rs 6.65 a share

in the same period a year earlier.

Net sales more than doubled to Rs 1.67 billion from 725.7 million.

Moser says it is aiming to become the third-biggest maker of compact

recordable discs by December, helped by a $233-million expansion plan to double

its optical media production facilities to 760 million units a year by next

March, up from 450 million at the end of June. The results were announced after

trading hours.

(C) Reuters Limited 2001.