Moser Baer's net loss widens in Q2 FY 2012/13

Nov 13, 2012 - Technology firm Moser Baer India (BOM:517140) on Monday said for its second fiscal quarter through September net loss had expanded to INR 876.2 million (USD 16m/EUR 12.6m) from INR 620.6 million a year ago.

The company, which makes storage media products and solar photovoltaic (PV) equipment, saw its loss from operations before other income, finance costs and exceptional items expand to INR 477.6 million from INR 66.5 million.

Revenue decreased to INR 4.14 billion from INR 5.17 billion.

The company said its solar engineering, procurement and construction (EPC) business further received robust enquiries. It is also considering adding capacity to its 5-MW Jodhpur PV plant.

In the second calendar quarter, cumulative PV capacity in India reached 1 GW, driven by the National Solar Mission and state solar policies. PV installations in the Asia Pacific region grew during the first half of the calendar year on the back of robust demand in emerging markets such as China, Japan and India. Global PV installations reached a record 13 GW, mainly driven by growth in the American and German markets, Moser Baer said citing data from IMS Research.

(INR 100 = USD 1.822/EUR 1.437)

Choose your newsletter by Renewables Now. Join for free!