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TVS-E Improves Operational Efficiency despite Printer market drop in Q3 |
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Market drop in Q3 Maintains Leadership in Dot
Matrix Printers
Chennai, October 26th 2004: TVS Electronics
Limited announced their results for the quarter
ended September 30, 2004, today. TVS-E has
reported revenue of Rs 58.4 Cr. for the quarter
against the revenues of Rs 67.7 Cr. in the
corresponding quarter of last year, a drop of
13% compared to last year. The company's focused
efforts on cost reduction helped improve EBITDA
from 4.7% to 5.7% over corresponding quarter
last year.
Delay in post budget corrective actions by union
government and transport strike resulted in
overall PC market drop of 12% and the DMP market
drop by 20% in Q3. However TVS-E marginally
increased its Market share in DMP and maintains
its leadership at 45.3%.
Products & Solutions business group
This Business group delivered a turnover of
Rs.47.52 Crs. during this quarter as compared to
Rs.55.88 Crs for the corresponding period last
year. However it has increased its printer sales
by 11% in volumes as compared to first three
quarters of last year. The new UPS launched
during Q2 this year was well received by the
market and 16000 units have been sold till date.
Two new variants in UPS i.e. 800 VA and 1000 VA
were also launched during this period and this
will lead to substantial gain in volumes in the
coming months. This period witnessed the launch
of Genuine for Sure range of Supplies for
printers.
This Business Group bagged the "Bhoomi Brand"
award from 360 Magazine for DMP and Keyboard
segment during this period.
Electronic Manufacturing Services business group
This business group recorded revenue of
Rs.35.70Crs as compared to Rs.39.16 Crs during
corresponding quarter last year. However this
business group showed an increase in external
revenues in the first three quarters which is at
Rs.36.90 Crs as compared to Rs.34.60 Crs last
year. This business group successfully rolled
out around 5000 units of Set Top Box for its DTH
customer in the month of September 2004. This
business group has invested in new products in
the STB segment and is targeting launch of the
same in Jan to march quarter of 2005. With
demand for FTA set top boxes and growth expected
in the DTH segment this business group is
ideally prepared to take advantage of the market
situation.
Commenting on the occasion Mr. Gopal Srinivasan,
Director, TVS Electronics Limited said, "Our
focus on cost management has helped the company
sustain efficiencies in spite of temporary slow
down in the market. We will see improvement in
our performance as the market will bounce back
in the following months.
The initiatives of the new government and its
commitment to pursue economic reforms have
received wide acknowledgements from the H/W
industry. Though delayed, the monsoon is
declared near normal and the industrial growth
is now estimated at around 7-7.5%. With the new
products initiatives taken by the company, the
subsequent quarters are expected to show greater
improvement in revenue growth and
profitability." |
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