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TVS-Electronics net dips

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CHENNAI: TVS-Electronics has reported a reduced net profit of Rs 45 lakh on a turnover of Rs 56.16 crore for the fourth quarter ended December 31, 2002, as against a net profit of Rs 1.23 crore on a turnover of Rs 52.67 crore during the corresponding period last year.

For the year ended December 31, 2002, the company reported an increased net profit of Rs 1.74 crore on a turnover of Rs 210.09 crore compared to a net profit of Rs 1.63 crore on a turnover of Rs 215.98 crore.

The company's Director, Mr Gopal Srinivasan, said that the eAppliances Business Group grew by over 100 per cent, to Rs 39.72 crore, in December 2002 quarter over the sequential quarter.

The PBT (profit before tax) for 2002 was Rs 2.23 crore (Rs 1.83 crore), while the turnover was Rs 210 crore (Rs 216 crore).

This was after the company made a provision on account of the closure of its Lexmark non-impact printer business.

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