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TVS-E Q4 PAT declines 6%

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CIOL Bureau
New Update

CHENNAI: TVS Electronics based in Chennai, has reported a 6.34 percent decline in Profit after Tax (PAT) for the quarter ended December 31, 2003 which stood at Rs 59 lakh against Rs 63 lakh of the corresponding quarter last year. The company's sales revenue for Q4 increased to Rs 64.64 crore against Rs 59.87 crore over the corresponding quarter last year.

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The company reported a 66 percent increase in PAT during the year ended December 31, 2003, which stood at Rs 361 lakh as against Rs 218 lakh in the previous year. Revenue for the financial year ended December 31, 2003 stood at Rs 262 crore, a growth of 19 percent.

TVS eTechnology Ltd completed the merger formalities of the erstwhile TVS Electronics Ltd with itself and adopted TVS Electronics Ltd as its new name consequent to merger. Hence, for the purpose of better understanding, the combined financials of the entities prior to merger have been used as reference for last year. Listing formalities for the merged Entity has been completed.

Announcing the Q4 results, TVS Electronics director Gopal Srinivasan said, "PC Penetration is improving with expected PC Shipment of over 2.5 million this year. Tele-density is growing at 40 percent. Therefore, the domestic IT industry is getting ready to see robust growth. With the range of products for printing, computing and power management, TVS-E is positioning itself to emerge as a dominant player in providing products and solutions for automating the point of retail transaction. Investments are being committed for preparing the company to be ready to operate in a zero duty regime, which is expected soon".

CyberMedia News Service

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