Moser Baer India Limited (MBIL) reported standalone net loss of Rs 284.98 crore in the quarter ended September 30, 2015. The company had reported standalone net loss of Rs 138.17 crore in the year-ago period, it said in a filing to BSE. Total income from operations dropped to Rs 139.66 crore, over Rs 243.89 crore in the year-ago period.
Moser Baer CEO Shiv Nath said, "The company has focused on correcting the demand supply imbalance to regain its market share, especially in the international market. Recovery of OEM business expected from January 2016 onwards." "Softening of key input costs in optical media accompanied by sustained cost reduction initiatives continued to support the business and offset softening of prices," Nath said. "In the SSM segment, we are partnering with new OEMs to expand business.
We have expanded our presence in the LED segment and have been able to cover significant markets in East and North India," Nath added.
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