Moser Baer India's net loss shoots up

The net loss of optical storage/compact disc manufacturer Moser Baer India Ltd has nearly doubled at around Rs.189.20 crore for the quarter ended June 30,2014 as compared to the previous year`s corresponding period.

Mumbai: The net loss of optical storage/compact disc manufacturer Moser Baer India Ltd has nearly doubled at around Rs.189.20 crore for the quarter ended June 30,2014 as compared to the previous year`s corresponding period.

In a filing with the Bombay Stock Exchange (BSE), the company`s total income from operations stood at Rs.270.67 crore and the net loss at Rs.189.20 crore for the quarter ended June 20,2014 as against Rs.346.92 crore and a net loss of Rs.98.50 crore logged during the comparable period the previous year.

According to Moser Baer, the company`s total accumulated losses as on date stand at Rs.728.74 crore, eroding the net worth.

The company`s current liabilities exceed current assets by Rs.1,166.91 crore.