Moser Baer posted a net loss of Rs 103.98 crore for the first quarter ended June 30, 2008. The company posted a net profit of Rs 9.64 crore in the same period a year ago. Furthermore, the company has also acquired a 51% stake in Lumen Engineering, a company that manufactures various optical CD and DVD disc media.

SEE ALSO: Moser Baer Hiving Off Entertainment Unit; To Unlock Value

While Moser Baer posted the loss, its subsidiary—Moser Baer Entertainment, showed intent to expand in the movie space. The company already distributes low-cost CD- and DVD-based movies through Indian retail stores: priced at around Rs 35 and as low as Rs 28; generally filled with regional content. ET reports that the company is in talks with a few private equity firms, including ChrysCapital and Warburg Pincus, and is looking to raise funds to the tune of $50 million to further expand its entertainment arm. The company has already produced a flick starring Rahul Bose, titled Shaurya. The first of a total of six planned. The report quotes Moser Baer Entertainment, CEO, Harish Dayani, stating the unit posted a turnover of Rs 170 crore last year and investments worth Rs 200 crore have already been made. We had previously reported on Moser Baer’s plans to hive off its entertainment arm here.