Moser Baer shares sink on Q3 loss

IT peripherals and consumer electronics firm Moser Baer on Friday reported a net loss of Rs 115.69 crore for the third quarter ended December 31, 2010.

The company had posted a net profit of Rs 3.23 crore for the third quarter last financial year, Moser Baer said in a filing to the Bombay Stock Exchange (BSE).

Income from operations of the company dropped to Rs 441.05 crore in the reviewed period from Rs 591.78 crore in the previous close, the filing added.

Reacting to the weak third quarter numbers, shares of Moser Baer plummeted by 9.89 per cent to hit a one-year low of Rs 37.35 on the BSE.