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Press Release |
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TVS-E more than doubles Q2 profit over previous year Leads the DMP market with 41% market share |
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The Chennai based TVS Electronics limited,
leaders in the manufacture of Computer
Peripherals, today announced that its PBT for Q2
2002 was Rs. 68 lakhs. This is against Rs.25
Lakhs PBT in Q2 2001.
The PBT growth over Q1 of the same year was 26%.
Traditionally the AMJ quarter financial results
in the IT hardware industry is lower than the
JFM quarter. In this context this positive trend
is reassuring.
This performance of the company was due to
growth in its Domestic Business as well as
continued growth of (24% over previous quarter)
in its Electronics Manufacturing Services
Division (TVS eServices).
TVS-E's Dot Matrix Printers business retained
the top slot in the domestic market with a
market share of 41% (Source : IDC Flash -
Channel Sales). The growth over the
corresponding quarter last year was an
encouraging 13.5%. The company has also seen a
spurt in its UPS and Keyboards business where
the growth over the previous quarter(Q1 2002)
was 40% and 20% respectively.
This growth, backed up by the new products
launches in the coming quarters, augurs well for
the company. The optimism however has to be
laced with the reality of low growth projections
in the IT hardware industry.
Commenting on the performance of the company,
Gopal Srinivasan, Director, TVS Electronics
Limited said, "We have always maintained a
belief that Dot Matrix Printers have good
potential in a country like India where the
Total Cost of Ownership is a Key Purchase
Influencer. We have invested substantially in
R&D over the years in trying to match critical
requirements of customers and hope to capitalize
on this strength in days to come, in the form of
new products." |
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About TVS Electronics: |
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TVS Electronics Limited, a part of the 90-year-old
TVS Group is one the largest manufacturer of Computer
Peripherals in the country. The range of offerings
includes Products - Dot Matrix printers, Keyboards,
Printing Supplies, Transaction Solutions, and Point
of Sale Products (PoS).
TVS-E has a large distribution and service network,
which reaches over 450 towns across the country
with two National Distributors, more than 200 Regional
Distributors and over 3,000 Authorized Dealer Partners.
The Company has manufacturing facilities in Tumkur,
Chennai and Himachal Pradesh |
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