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| Moser Baer India, a leader in optical storage media, has posted a gross revenue of Rs 524.84 crore for the second quarter ended September 30, 2006 - a 31.9 per cent increase from last year's figure of Rs 397.82 for the same period. The company's profit-after-tax at Rs 25.97 crore for the second quarter also increased compared with Rs 3.08 crore reported during the same period last year. |
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| The company posted 10.34 per cent sequential growth in its growth revenues for the second quarter. Its last quarter's figures stood at Rs 475.64 crore. The company's DVD-R shipments grew 47 per cent year-on-year basis and pricing remained firm. In the quarter, next-generation HD DVD-R media's contribution was in small numbers. Consequently, overall average selling prices for optical media business rose 9.8 per cent during the second quarter. |
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| The sharp improvement in operating profitability is attributed to a firm pricing environment and impact of falling prices of PC (poly carbonate). |
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| Consequently, EBITDA margin, excluding other income, expanded by 737 basis points during the quarter to 26.6 per cent (28.3 per cent with other income). |
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| "This quarter has placed the company at the threshold of normal levels of operating and financial parameters. An improving pricing cycle in CD-R, robust growth in DVD-R and subdued PC cost environment are the key enablers. As we now enter the traditionally strong winter season these positive trends should gain momentum, aided by soft PC prices, helping continued expansion of EBITDA margins in subsequent quarters," said Ratul Puri, executive director, Moser Baer India. |
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"The trend of improving industry conditions should continue till the current year. DVD-R/RW (DVD read only and read and write) prices are expected to continue to follow its cost curve, enabling us to maintain healthy margins in the optical media business. The revenue share of higher margin DVD-R/RW and next-generation products are expected to further rise by 60 per cent by the fourth quarter FY07, thereby improving operating performance," said Puri.
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NIIT net up 169% at Rs 10 crore
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| IT education and training major NIIT has posted a quantum leap in net profit at Rs 10.29 crore in the second quarter ended September 30, 2006, a rise of 169.37 per cent compared with a net profit of Rs 3.82 crore recorded during the same of previous financial year. |
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| The company's total income during the quarter under review rose at Rs 110.34 crore against Rs 83.8 crore recorded during the same period a year ago. |
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| On a consolidated basis, NIIT posted a net profit at Rs 16.1 crore, an increase of 23 per cent, while its net revenues stood at Rs 203.1 crore, the company said. |
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| The company has posted global system-wide revenues of Rs 321.3 crore and an operating profit of Rs 23.8 crore, a 36 per cent increase, compared with Rs 17.5 crore recorded during the same period a year ago. |
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| Commenting on its Q2 performance, NIIT chairman Rajendra S Pawar said, "The company's growth is driven by strong increase in the existing individual and corporate businesses, new products and the recent acquisition.' |
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| The company had acquired Element K, which had nearly 1,500 customers and 641 employees, a leading provider of learning solutions in North America. |
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| NIIT's individual business recorded 46 per cent growth in revenues, with GNIIT enrollments increasing up by 98 per cent. China operations recorded a 35 per cent growth in revenues, during the quarter. |
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| NIIT chief operating officer P Rajendran said, "Over 30,000 engineering and computer science students enrolled at NIIT in this quarter." |
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| The company's order intake in corporate solutions business, excluding Element K, grew by 33 per cent and with a fresh order intake of $12.9 million the pending order book increased to $37.5 million; of this 63 per cent is executable over the next 12 months. |
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