TVS Electronics Jan-March Net At Rs 1.34 Cr

Chennai | Updated: Apr 27 2004, 05:30am hrs
TVS Electronics has registered a net profit of Rs 1.34 crore for the quarter ended March 2004 as against Rs 1.22 crore during the corresponding period last year.

The companys revenues have shown a 14 per cent decline to Rs 58.21 crore during the period when compared to Rs 67.71 crore during the year ago quarter. Depreciation and amortisation expenses has been reduced to Rs 2.34 crore for the quarter ended March, 2004 as against Rs 4.67 crore during the corresponding period last year.

Gopal Srinivasan, director, TVS Electronics, said, The companys success in reducing the interest costs substantially through leveraging debt markets and foreign exchange opportunities has helped TVS Electronics increase its profits in spite of a decline in revenues. We are continuing to look at increasing sales.