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TVS-E Q3 revenue and profit grows over last year |
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IT Appliances division launches breakthrough
Printer. Tumkur plant gets QS 9000 certified.
Chennai based TVS Electronics Limited today
announced its third quarter unaudited financial
results. Its sales revenue for the quarter is Rs.
53.81 crore. This is an impressive 18% growth
over the same quarter last year (Rs. 45.39 crore).
The PBT for the quarter is Rs. 45 lakhs as
against a loss of Rs 93 Lakhs in the previous
year Q3.
The eServices Business group continued to grow
steadily. This group which offers 'Electronic
Manufacturing Services' for global clients
clocked a Q3 revenue of about Rs. 20 crores.
This is against revenue of Rs. 15 crore in the
same quarter last year- posting a 33% growth.
With the certification of the unit's Tumkur
plant, its manufacturing units at Tumkur and at
Chennai are both QS-9000 certified in line with
global standards.
The IT Appliances Business group also grew. The
Peripherals division, with its new range of
Keyboards grew 17% sequentially and 26% over
last quarter. The IT Appliances group has
recently launched a breakthrough bill printer
called TVS Proton, which is the world's
quickest. TVS Proton redefines Printer Speed and
promises to set new technology standards. It
generates 10 Bills Per Minute, making it 20%
faster than any other transaction printer in the
world.
The company takes pride in the fact that this
product was designed in India by its R&D team,
Co-designed by its customers. Extensive research
was undertaken to gain an in-depth understanding
of the retail environment and customer needs for
transaction printing. Over 2 lakh man-hours
across 15 months, and a financial outlay of Rs.
4 crores, went into the market research. The
young R&D team (average age 23) involved 600
retailers across 12 cities in verticals such as
grocery, pharmacy, restaurants, footwear,
apparel and gifts & jewelry stores for this
research. Around 24 retailers participated
actively in the design process as co-designers.
Commenting on the performance of the company
Gopal Srinivasan, Director, TVS-E, said, "We are
well placed to take on the challenges of the
future. On the one hand we have a breakthrough
product, which will increase our IT Appliances
business prospects in the local and
international markets. On the other, we have a
steady inflow of business due to the growing
needs of global companies for competitive value
added electronic manufacturing services."
The existing funnel of business promises an
optimistic outlook for Q4, with the annual
profits being substantially better than last
year. He added that year 2003 could see more
demand for the PC and Peripherals industry.
TVS-E had the advantage of leveraging this
market growth to its benefit. |
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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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