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TVS-E registers 19% growth in Q4 07; achieves market leadership in printer business |
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Chennai, 23rd June 2007: TVS Electronics
announced the audited annual results for the
financial year ended 31st March 2007. The
company earned revenues of Rs.77.5 Crores during
the quarter ending 31st March ’07, a growth of
19% over the corresponding quarter in the
previous year. The Profit before Tax was Rs.2
Crores as compared to Rs.1.8 Crores during the
corresponding quarter in the previous year.
During the quarter ending March ’07, the company
gained back its DMP market leadership and
achieved a share of 40%. The newly launched Pro
Series was received well by the market and
contributed significantly to the market share
growth.
The total income for the FY ’07 is Rs.277.1
Crores as against Rs.265.7 Crores in FY ‘06. The
profit after tax is at Rs.1.9 Crores for the
financial year. The profit before tax and
exceptional items has been Rs.1.9 Crores as
compared with Rs.1.2 Crores during the previous
year. Net sales for the year ended March 2007
grew by 5% to Rs.272.4 Crores from Rs.259.5
Crores in the corresponding previous financial
year.
The board has recommended a dividend of 7.5% for
the year ended 31st March 2007. The company won
the Brand Excellence award from VAR India during
this quarter. The Contract Customer Support
delivered a growth of over 50% with the addition
of new customers in the Telecom & IT vertical.
TVS Electronics has sold its Contract
Manufacturing Service business at Tumkur;
Karnataka to Incap Contract Manufacturing
Services Pvt. Ltd., a subsidiary of Incap
Corporation, a Finland based company effective
May 31st 07.
Commenting on the company’s performance Mr.
Gopal Srinivasan, Director, TVS Electronics
Limited said, “Our focus on cost improvement has
helped the company achieve profitability during
this quarter. The focus will now be on
introducing new products in the Transaction
products and service businesses”
With their Himachal Pradesh operations in full
swing, the company also plans to set up their
manufacturing facility in Uttaranchal. |
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