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News >> Technology >>
TVS-Electronics net dips in Q4
By agencies
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Tuesday, 14 June 2005, 19:30 IST
CHENNAI: TVS Electronics Ltd has reported a reduced net profit of Rs 7.2 million on a turnover of Rs 611. 2 million for the quarter ended March 31, 2005.
The reason for the drop is the average price reduction of 5 percent across its product range. "It took a major toll," Gopal Srinivasan, Director, TVS Electronics, said. "We expect to do better in the current quarter," he said.
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 42. 8 million on a turnover of Rs 3.17 billion.
According to Srinivasan, the company plans to invest Rs 200 million 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 digitization of home entertainment, the company is focused on introducing new products and services to take advantage of the emerging markets, he said in a press release.