The Hindu Business Line : TVS-E net dips in Q4

TVS Electronics Ltd has reported a reduced net profit of Rs 72 lakh (Rs 1.34 crore) on a turnover of Rs 61.12 crore (Rs 58.48 crore) for the quarter ended March 31, 2005.

The reason for the drop is the average price reduction of 5 per cent across its product range. "It took a major toll," Mr Gopal Srinivasan, Director, TVS Electronics, said. "We expect to do better in the current quarter," he told newspersons.

The company's board has recommended a dividend of 90 paise per equity share of Rs 10 each for the 15 month period ending March 31, 2005.

For the 15 months, the company reported a net profit of Rs 4.28 crore on a turnover of Rs 317.40 crore.

According to Mr Srinivasan, the company plans to invest Rs 20 crore this fiscal on printers, set-top box, power suppliers and an assembly plant in Himachal Pradesh. A decision on this would be taken in a couple of weeks; the investment would not be very large, he said.

With growth in four key segments, including IT, telecom and digitisation of home entertainment, the company is focussed on introducing newproducts and services to take advantage of the emerging markets, he said in a press release.

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