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Press Release |
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TVS-E Revenue grows 17% over Previous Quarter |
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TVS Electronics Limited announced the results
for the quarter ended December 31st 2004 today.
The company has reported a of revenue of Rs.68.4
Cr for the quarter against Rs.58.2 Cr in the
previous quarter - a growth of 17%. This is
against revenues of Rs.67.8 Cr in the
corresponding quarter last year.
The Company's continued efforts on cost
reduction in preparation for the zero duty
regime has paid rich dividends. The company has
reduced its expenditure from 34% to 26% of
sales, a reduction of Rs.5 Crs over the
corresponding quarter last year. The EBITDA is
thus retained at Rs.3 Crs, though there was a
substantial reduction in other income on foreign
exchange transactions.
Products & Solutions Business Group
This business group delivered a turnover of
Rs.53.8 Cr, during this quarter as compared to
Rs.52.1 Cr in the corresponding period last
year. Also the Operating Profit (before
interest) has shown a significant increase at
Rs.2Cr against Rs.0.5Cr in the corresponding
period last year.
TVS-E's initiative to export its dot matrix
printers has also taken shape with the
establishment of sales operations in 6 new
markets in South Asia and Middle East. The
company foresees this initiative to help achieve
significant results in the months to come.
During this period, TVS-E witnessed significant
increase in its Point of Sale Business with its
sales of Electronic Data Capturing terminals
that doubled its turnover at Rs.12 Cr against
Rs.6.8 Cr in the corresponding quarter last
year.
Following the success in Set Top Box, this
Business Group is now ready to introduce the
Free To Air (FTA) Direct to Home (DTH) version
in Q1' 05.
Laser Toners Compatibles were launched by this
business group to increase its product lines to
leverage its already launched dot matrix ribbon
compatibles in the supplies business.
The Business Group was awarded the ISO:
9001:2000 certification from TUV Rheinland for
design, sales and servicing of Dot Matrix
Printers and Point of Sale systems
Electronic Manufacturing Services Business Group
This business group recorded total revenue of
Rs.42.3 Crs as compared to Rs.37.8 Crs during
corresponding quarter last year amounting to a
growth of 12%. There has also been an increase
in external revenues to Rs. 14.3 Crs as compared
to Rs. 12.4 Crs in the corresponding quarter
last year.
The Contract Customer Support business currently
maintains over 55 000 POS terminals across the
country, a substantial increase from 30,000
terminals last year. This business has also
entered the Telecom segment for servicing of
VSats and fixed wireless terminals for global
customers.
Commenting on the occasion Mr.Gopal Srinivasan,
Director TVS Electronics Limited said "Our focus
on cost management has helped the company
sustain efficiencies and prepare for the Zero
duty regime expected to come in by March 2005.
We also welcome the Government's broadband
policy as it helps grow the market and also
opens up new opportunities for companies like
TVS Electronics Ltd. TVS E would take advantage
of this by introducing new products to cater to
this emerging market." |
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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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