Moser Baer India, maker of compact discs and other optical storage media, on Tuesday said its net profit in the third quarter rose by 65 percent on increased sales of DVDs.
Shipment volumes in the third quarter grew by 24 per cent sequentially, while sales of DVD media grew by 154 per cent, accounting for 18 per cent of the company's optical media revenues.
"The robust performance in the third quarter of FY04 is a result of the strong demand conditions prevailing in the industry for both CD & DVD formats and the fast ramp up of our capacities over the past few quarters," said Mr Ratul Puri, Executive Director of MBIL.
He said MBIL was currently ramping up its DVD-R capacity to address the sharp expansion in demand.
"We expect to increase our market share in the DVD-R segment to about 20 per cent over the medium term. DVD-R is emerging as the key growth driver for our revenues in the near term. We expect the momentum to continue into the fourth quarter, and consequentially we have increased our earnings guidance significantly", Mr Puri said.