Date:27/10/2004 URL: http://www.thehindubusinessline.com/2004/10/27/stories/2004102701750700.htm

Back TVS-E net slips 65% in Q2

Our Bureau

Chennai , Oct. 26

TVS-Electronics has reported a reduced net profit of Rs 36 lakh on revenues of Rs 58.40 crore for the quarter ended September 30, 2004 as against a net profit of Rs 1.01 crore on revenues of Rs 67.61 crore for the corresponding quarter last year. This represents a 65 per cent drop in net profit.

"It was a disappointing quarter," Mr Gopal Srinivasan, Director, TVS-E, told newspersons. He attributed the drop in net profit to non-supply of printer heads by a supplier during the quarter. "We lost Rs 8 crore to Rs 9 crore due to non-availability of printer heads. We were expecting revenues of Rs 72 crore for the quarter, but managed to do only Rs 58 crore," he said. The Chennai-based TVS-E manufactures computer peripherals.

Mr Srinivasan said, due to the supplier's problem, the supply chain for the company during the quarter was affected. The company has appointed two more suppliers abroad, one in the Far East and one in Europe. He said delay in post-budget corrective actions by the Government and transport strike lead to an overall PC market dip.