The Hindu Business Line : TVS-E net jumps to Rs 3 cr

TVS Electronics has reported a net profit of Rs 3.04 crore for the quarter ended March 31, 2006 compared to a net profit of Rs 72 lakh for the corresponding quarter last year. Revenue for the quarter was Rs 64.96 crore (Rs 60.67 crore).

The Chennai-based computer peripheral manufacturer has recommended a dividend of 75 paise per equity share of Rs 10 each for year ended March 31, 2006. For 2005-06 fiscal, the company reported a net profit of Rs 3.15 crore on revenues of Rs 259.50 crore.

During the year, an amount of Rs 31.63 crore was income from extraordinary items consisting of profit on transfer of land and building to the company's wholly owned subsidiaryThe subsidiary would take up the work of development of the property for the company's own use and also develop additional space for commercial use leveraging on the potential for commercial spaces realising value to TVS-E.

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