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NEW DELHI: Timex Watches Ltd has announced cash profit of Rs 74 lakh for the quarter ended September 2004 against a loss of Rs 3.2 crore for the corresponding period last year.

The company's revenue for the period was Rs 18.9 crore, a growth of 26 per cent. The revenue during the same period last year was Rs 15.05 crore.

Mr Kapil Kapoor, Managing Director, said: "Our good performance this fiscal is the result of strong sales growth and a new business model based on a flexible supply chain that helped reduce manufacturing overhead expenses."

According to a company statement, the results support the company's business restructuring initiatives, which have started yielding sustainable growth and a turnaround in the bottom line

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